Yes, generally speaking, you can't cancel a hotel reservation in Hong Kong. Even if you don't check in, the hotel will deduct the full cost. These regulations are usually formulated jointly by banks and hotels.

However, you can contact the hotel or bank you booked and ask if they have a cancellation policy or if there are other solutions. If they can't help, you can also consult the relevant consumer protection agencies or legal consulting agencies to understand your rights and possible legal remedies.

I hope this information can help you.