Again, I would judge everything on a case-by-case basis, honestly. I think that the evidence speaks for itself, regardless of what the paper says. And, again, I say this because I've witnessed far too many "qualified" teachers who were anything but in reality. I think that experience and heart make a bigger difference than anything--especially at the kindergarten and primary level. Yes, it would be nice if every teacher in HK held a high qualification but that's not the reality and honestly, it doesn't bother me all that much.
I agree that there are some terrible teachers who have the qualifications, and I have had a few of them when I was in school. They made me hate subjects that I previously loved because they quite clearly did not have the passion for it and I certainly would not want that for my children. My son's teacher is fabulous, she has been teaching for a long time and is still passionate about it. She knows my son very well and he loves going to school and is doing very well (as well as a 6 year old can!).