Normally the speed control lever closes the choke at the maximum speed end of its movement, and shuts off the ignition at the other end of its movement.
If the choke is closed completely, the engine will stop after just a few seconds running anyway, due to being grossly over-rich. Most likely there will be some black smoke if this happens. It won't happen as easily on a genuine Honda because they either have a small cut-out in the choke plate, or a feature in the choke linkage, to prevent it, but with a chonda the choke linkage and choke plate are not necessarily as well developed. I suggest you see if you can start it with the choke not fully closed.
