China/HK Taxes and RMB payment

My company (HK) is going to
(a) sign a service contract with a China registered co. to provide consultancy services to the China co.
(b) all the services are provided LOCALLY in HK (not in PRC)

I would like to clarify that,
(a) Does my co. need to pay any PRC taxes? I think only pay HK profit taxes?
(b) How can the China co. make payment (in RMB$) to my co. in HK?
Does it TT the RMB$ to my local bank RMB a/c in HK? or any other means?