This chapter examines the development of private higher education in Hong Kong since the early 2000s with a focus on the trends of massification and internationalization. It consists of three sections. The first section examines the rationales for privatization of higher education in Hong Kong. The second section delineates the policy initiatives taken by the Hong Kong government to facilitate the development of private education. The third section illustrates the challenges of higher education development at the postmassification stage in the city.