Uploaded from the Royal Commonwealth Society, hosted at the website of the University of Cambridge.
See the panorama on the website with much higher resolution.
On Gwulo is the same set of photos (starting here), this one has a higher resolution. In fact, this shows the highest resolution I've ever seen for panoramas in the 1900s. This helps in dating the photo.
1. On the extreme right is the paddle steamer "Hankow" at the Hongkong, Canton & Macao Steamboat Co. Wharf / Canton Wharf (second generation) [1900-c.1958]. The ship is still in good order, so the photo was taken before the 14 October, 1906 (when the steamer was destroyed by fire).
2. The matshed roof on Blake Pier is visible. Also the the temporary roof above the construction site of the new Post Office. Both were blown away during the typhoon on 18 September, 1906. The photo was taken before that date.
3. The Urinal on Connaught Road, opposite the end of Douglas Street [1906-c.1952] is there. It opened in 1906.
So the photo was taken in the first half of 1906 (to be precise between January and mid-September).
Note 1: The panorama is made from four photos. The placement of the photos is not entirely precise, which is why there are duplications in these places.
Note 2: This panorama is the "mother" of many other photos that have been published later. These can be identified when the sailing junk in front of the Nine Arches Building is shown, e.g. this one.