Its maximum sustained winds are around 110-115 mph, classifying Megi as Category 3 intensity storm. The storm is anticipated to make landfall in the southern Guangdong province late Friday into Saturday. By the time Megi reaches land, wind shear is expected to weaken the storm to Category 1 levels according to the Navy's Joint Typhoon Warning Center.
Nonetheless, this powerful storm is likely to produce significant impacts over a large area of the south China coast. These include typhoon-force winds, heavy surf and torrential rains. Megi's large size is also likely to push a large storm surge just north and east of where the center comes ashore.
Further west and south, Hong Kong will probably miss the brunt of the storm, but squally weather is expected over the next several days there according to the Hong Kong Observatory.
For additional information on China's preparations for Megi, see this story:
Megi threat appears to weaken before China landing