This article makes use of survey data collected in 1992 and 2007 to examine the question of whether or not Postmaterialism is gradually becoming manifest in Hong Kong and to explore the applicability of Postmaterialist theory to this affluent Chinese society. Our findings basically support the hypotheses of the theory that the continued socioeconomic development of Hong Kong is giving rise to a populace that is increasingly inclined towards Postmaterialism. Younger people are more Postmaterialist than their seniors. In addition, Postmaterialists are more likely than Materialists to support the “new politics” and democracy. Nevertheless, Hong Kong is far from being a Postmaterialist society. Multivariate regression analysis also revealed that the Materialist/Postmaterialist orientation is neither related to age nor to formative security.