The paper applies a Schumpeterian analysis of entrepreneurial cities to Hong Kong. It argues that the concept of entrepreneurship can be applied to cities as strategic actors, identifies various objects of urban entrepreneurship, and refers to the important role of entrepreneurial discourses, narratives and self-images. Despite its laissez-faire reputation, Hong Kong has a long history of urban entrepreneurship, but its strategies have been adapted to changing circumstances—most recently with its key role in an emerging cross-border region (Greater China) and its favourable insertion into the global economy. This has prompted a debate over the most appropriate strategies for Hong Kong, notably regarding the respective futures of manufacturing, services and the virtual economy. The concept of 'glurbanisation' as one form of the more general phenomenon of 'glocalisation' is introduced to illuminate these issues. The paper concludes by noting the increased importance of 'Siliconisation' as an accumulation strategy in east Asia.