Of course, this being China, the festival is deeply rooted in tradition. According to legend, it commemorates the death of a popular Chinese national hero, Qu Yuan, who drowned himself in the Mi Lo River over 2,000 years ago to protest against the corrupt rulers. As townsfolk attempted to rescue him, they beat drums to scare fish away and threw dumplings into the sea to keep the fish from eating Qu Yuan’s body.

The races, now held on the Shing Mun River in the New Territories, re-enact the fishermen’s frantic, vain attempts to save him. Drums are still beaten, but this time the tasty rice and meat dumplings, known as song zi, are for eating. As part of the tradition to appease the dead hero’s spirits, onlookers also swim or dip their hands in the water.

Although the race takes place on one day, 22nd June this year, the weeks around the event are marked by rituals which show the deep-rooted religious beliefs surrounding dragon boats. The boats have to be blessed and “awakened” before the races and then properly induced to “rest” afterwards. Conducted by the territory’s fisherfolk, this involves the burning of paper bills in front of the boats, the making of offerings and the chanting of prayers to heavenly gods.

The people of Hong Kong, surrounded by the South China Sea, have always had a special affinity to water. The city was built on trade from across the oceans and the fishing industry continues. Families still live on junks floating in the harbour and the old Star ferries which cross from Kowloon to Central remain a very popular way of commuting to work. Much of the harbour has been reclaimed but residents recently thwarted the latest attempt to snatch more land from the sea.

During my first visit to Hong Kong, when all I could afford was one of the backpacker haunts off Nathan Road, I vowed that I would return to a “room with a view” and live it up in style. And Hong Kong, with its mixture of Chinese heritage, quaint British tradition and international cachet, is certainly stylish. For this trip, I was going for broke. Chauffeured in a Rolls Royce from the airport, I headed for the five-star Peninsula Hotel. The “Pen” has dominated Hong Kong’s social life since its opening in 1928 and has a remarkable history. For two years it was requisitioned by the British military to house troops and, on Christmas night in 1941, the formal surrender to the invading Japanese forces took place by candle light in one of its rooms. More than 50 years later, in June 1997, it was still “the place to be” during the celebrations marking the British handover of Hong Kong to China.

Now this magnificent hotel was my base to explore Hong Kong. First stop was Victoria Peak, from which one can see across to the New Territories, where the dragon boat race takes place. I boarded a Star Ferry (on the top level you’ll avoid the spray and get a better view) and then the free shuttle bus to the lower Peak Tram station. The world’s steepest funicular railway, the tram passes through five stations on its way to the top. The Peak, also known as Tai Ping Shan (Mountain of Great Peace), boasts a big shopping centre with amusement parks and even a Ripley’s Believe It or Not Museum. I preferred to stroll along the pathways and linger over a cup of coffee on the terrace of the Peak Cafe.

About half-way down the mountain is an area known as the Midlevels, which boasts the fascinating “Midlevels escalator”. About a kilometre long, it consists of a combination of escalators and walkways that provide free-glass-covered transport up or down the steep hill. Plan to ride the escalator up between 11.20am and 11.30pm, as it runs downhill from 6-10am in order to get residents to their offices down below. You can get off at any point and explore the sidestreets, whose vendors sell clothes, porcelain and antiques.

For dining with a difference, head for the tiny streets of Lan Kwai Fong in Central, where you’ll find more than 100 restaurants and bars. Or try nearby SoHo, which is accessible by the midlevels escalator. Dine where your taste buds dictate, but do try dim sum, the bit-sized savouries beloved by all Hong Kongers. I found them delicious, especially cheong fun (steamed rice rolls) and har gau (steamed prawn dumplings).