A fancy gold entrance sign with red letters was erected to give it a veneer of respectability. Four years later, it's still there. The more-illicit aspects of its squalid capitalism out of sight but thriving. There's still a knot of guys in sunglasses and cheap suits hanging out up front. The key to surviving a stay at Chungking Mansions is to do a little comparison shopping before you rent a room.
Veterans say the way to go is to stay low.
As in near the street. The better hostels are in the lower floors. The Mansions is also divided into blocks. The threat that you'll take your business elsewhere can turn up miraculously better rooms or cheaper prices. Remember, if you don't like what you see, take a walk.