As a result of the unique social and geopolitical position of Hong Kong, Buddhism in the former British colony since the early 20^(th) century has gone on a course different from its Mainland counterpart. The favorable environment in Hong Kong also catapulted Hong Kong Buddhism to the forefront of some of the latest developments in Chinese Buddhism or Buddhism within the Chinese societies. The rapid development of Theravāda Buddhism in Hong Kong since the 1990s is one of the latest of such developments and its continual impact to both local Buddhism as well as the Mahāyāna-dominated Chinese society at large will require proper evaluation.