If PSB will grant School's request for HK Z pick-up, you can get it in HK. PSB in Tianjin, Beijing, Shanghai require Z pick-up in your home country.

You used to be able to, and we all know with money or guanxi anything is possible, but from most accounts, your gonna have to go back home and get it done. Now if you already have one now and your getting a new one, it wont be any problem. good luck

yeah, now they have changed the rules so most probably you will have to come back to your home country 

Hello, 

I work in a visa consulting company based in Shanghai, there is a number of countries in EU that can apply for working visa in HK, US also so it depends your nationality you will be able to do the process there, if you have any question let me know marketing@visashanghai.org we can also help your company with the process. Have nice holidays.

I did one in HK a few weeks ago so it is possible at least where I am.  You have to have your invitation letter addressed to the Hong Kong embassy though or it won't work.