ConstanceFaith, I had an ex-colleague just like you. Originally from HK but moved to Europe when she was 7. She returned when she had a daughter with a man who was an absent father. Just thought that I'd tell you what she did to counter the parental economic influence:
(1) Instead of living with her parents, she rented her own apartment where she returned home to after work each day.
(2) To save her mother's face, she kept her son at a prestigious brand name school but the fees were foot by her parents. And when the parents nitpicked, she "told them off" by mentioning that she was quite happy to have her son in a no brand school down the road.
(3) She did not have a helper. She worked full time, really long hours (at the school I work at). When she's at work, the child is at school (full day - 3 years old then) and grandparents/helper (her mum's) would pick the child up after work.
Was she happy? Mostly? What caused her unhappiness, the times when her mum and dad would pick on her and this made her feel like a loser. But she hung on until she had enough to head back to Europe. During this time, her son carried on in the brand name school and it him no disservice. So, you too could work around it with your current lifestyle in HK.
(1) Own apartment - your costs
(2) School - Let them pay for it (to save face - very important value a lot of Westerners cannot understand). As a product of Asian parents, I truly get that.
(3) Maybe just a helper (which you pay for or not) to get your child in and out of school while the two of you sped up your efforts to that ultimate goal.
I think as children of Asian parents, the save face factor does interfere with our daily lives and our Western dream/desires/ways. Since having children, I am more aware of how important a role grandparents play in the lives of our children. Apart from us (their parents), they are the only other pair of hands that truly spoil and love our kids (and with a lot more patience). It is their role. In fact, it is their right as Asian parents, some would argue. It is quite the norm. So save them a little face. Let them spoil your kids (as far as their education is concerned) while you wait it out.
Good Luck!