This month two of Hong Kong's business schools obtained accreditation from the Association to Advance Collegiate Schools of Business (AACSB).
The University of Hong Kong (HKU) earned its accreditation for its faculty of business and accounting, alongside Baptist University's (HKBU) school of business.
The AACSB is an association consisting of almost 1,200 educational institutions, businesses and other organisations in 74 countries and territories.
Of all the business schools across the world, only about 5 per cent, or 593 schools in 37 countries, have obtained the accreditation.
Hong Kong's standing as a centre of business education excellence is buoyed by the two accreditations, bringing the number of local universities accredited to six, with Chinese University, City University, Polytechnic University and the University of Science and Technology having already received the accreditation.
HKU is the first in the city to receive the accreditation for both its business and accounting programmes.