Hong Kong is moving towards a knowledge-based economy. To nurture a population to continuously support and drive its development to achieve a world-class success, Hong Kong's education system has been reformed tremendously since 1997 with a balanced focus of academic and practical learning. Generic form of learning outcomes are critical outcomes for students to demonstrate high flexibility and adaptability in respond to the future ever-changing challenges. Using instruments that measure "cultural literacy" (Hui, 2012) and "student engagement" (Hui & Cheung, forthcoming), this study sets out the agenda to assess the development of generic learning outcomes of Hong Kong senior secondary school students, the extent to which they are well equipped with the skills to prepare themselves for a knowledge-based economy. Results of a survey study of 1,715 students inferred not up-to-standard performance and which questioned the design of the New Senior Secondary (NSS) school curriculum, the core subject of Liberal Studies and the Applied Learning courses in particular. Regression model further suggested generic learning outcomes could be explained largely by how schools plan and facilitate students‟ learning inside and outside the classroom. It is the primary role of NSS schools to provide students with meaningful and useful learning experiences to achieve the curriculum goal of fostering generic learning. This paper will contribute to the discussion of how to support more NSS school reform in Hong Kong.