doubt about the 72 Hour Visa Free transit policy

The statements I see on the 72 hour free application indicate you have to be traveling to a "third country (region)". I am traveling to Shanghai for a 55 hour visit, then going on to Hong Kong for 48 hours, and then on to Tokyo.

Since Hong Kong is a Special Admin Region of China does it count as a "third country (region)"?

thank you,
ryan