KCR (Kowloon - Canton Railways) operates a comfortable train service that connects Hong Kong with Guangzhou, Shanghai and Beijing. Trains to mainland China depart from Hung Hom Station in Kowloon.
Ten trains run daily from Hong Kong to Guangzhou, from 7 am to 7 pm. Travel time is around two hours and the price, at the time of writing, ranges around HK$ 200 per person, one way (Economy class). Normally, taking the bus to Guangzhou is less expensive and more convenient (see below).
Trains to Beijing and Shanghai depart once in two days (one day to Beijing / one day to Shanghai) and the journey takes around 24 hours.
The most expensive ticket (Deluxe soft sleeper) to either Beijing or Shanghai, ranges around HK$ 1,000 per person, one way. The cheapest ticket costs around HK$ 350 per person, one way and allows you to use the Hard sleeper... (not very recommended... unless you are a backpacker on a tight budget).
KCR has special offers and promotions, from time to time, on the mainland China lines and it's a good idea to check their website (you can also book tickets there).
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Comfortable, air-conditioned buses travel daily from Hong Kong to Shenzhen, Guangzhou and other towns in Guangdong region.
China Travel Services operates a large number of cross-border buses, every day. Using them is a good option, both because the fare is significantly lower than the train and also because they pick their passengers from different points in Hong Kong and drop them off in various points in Shenzhen and Guangzhou (saving you the hassle of getting to and from the railway station).
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One way fare from Hong Kong to Guangzhou is around HK$ 100
One way fare from Hong Kong to Shenzhen is around HK$ 60
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The company also operates direct bus line from Hong Kong International Airport to the large cities on the Chinese side of the border.
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For additional information, timetables and tickets: http://ctsbus.hkcts.com or
http://www.ctshk.com/english/bus/zhonglv.htm
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You may also want to read about...
Hong Kong Border Checkpoints
Traveling from Hong Kong to Shenzhen International Airport
