Based on critical discursive analysis and empirical studies, this study sheds light on policy initiatives aimed at turning Hong Kong (HK) into a higher education hub. Its findings come from questionnaire surveys distributed to 1060 overseas students who studied in HK universities between 2019 and 2021. Three paradoxical issues are identified: the mismatch between policy orientation and students’ preferences, the segregation of international and local students in university life, and the dilemma of the city's positioning as a talent pool or stepping stone. The case of HK highlights the contrast between the discursive imaginaries and lived realities stemming from its projection as an education hub in non-Western societies. Copyright © 2024 Elsevier Ltd. All rights reserved.