This is good news. Hopefully this means Disney is abandoning the idea of opening regional parks throughout the world and has realized it's more advantageous to focus on building a quality park in Hong Kong. If it's up to the standards of the other four Magic Kingdom's throughout the world, Disney won't have any trouble meeting their attendance goals.
Looking way into the future, I'd bet Disney stays clear of Shanghai should it decide to expand into mainland China now that Universal has planned to open a park there. If they're looking to expand around 2010, I wouldn't be surprised to see Beijing considered.
