Hong Kong is moving towards a knowledge-based economy. In order to nurture and motivate a population to continuously achieve world-class success, Hong Kong‟s education system has been reformed extensively since 1997, with a balanced focus on academic and practical learning. Generic forms of learning outcomes are critical to allow students to demonstrate high flexibility and adaptability in response to ever-changing challenges in the future. By using two well-validated instruments which measure students‟ achievement of generic learning outcomes and their engagement in schools, the cultural literacy and student engagement scales, this study aims to assess the development of generic learning outcomes of Hong Kong senior secondary school students, the extent to which students are well-equipped with the skills to succeed in a knowledge-based economy. The results of a survey study of 1,715 students inferred that their performances were not up to standard and questioned in particular the success of the New Senior Secondary (NSS) school curriculum. A regression model further suggested that these generic learning outcomes could largely be explained by how schools plan and facilitate students‟ learning inside and outside the classroom. It is argued that the primary role of NSS schools should focus to provide students with meaningful and useful learning experiences so as to achieve the curriculum goal of fostering their generic learning. This paper will contribute to the discussion of how to better support the NSS curriculum reform in Hong Kong. Copyright © 2020 The Author(s). All Rights Reserved.