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The museum was established by the Urban Council in July 1975 when the City Museum and Art Gallery was split into the Hong Kong Museum of History and Hong Kong Museum of Art; some of the Museum of History's collections were on display at the City Museum and Art Gallery's original 1962 location at the City Hall.
The Hong Kong Story permanent exhibition is a showcase of the history and development of Hong Kong. Occupying an area of 7,000 m (75,000 sq ft), The Hong Kong Story comprises eight galleries located on two floors. Through the display of over 4,000 exhibits with the use of 750 graphic panels, a number of dioramas and multi-media programmes, and enhanced with special audio-visual and lighting effects, The Hong Kong Story outlines the natural environment, folk culture, and historical development of Hong Kong. The exhibition starts from the Devonian period 400 million years ago and concludes with the Handover of Hong Kong in 1997. The museum exhibits prehistoric fossils, colonial documents from the 19th Century and Ancient Chinese pottery
Stokes-Rees, Emily (22 May 2014). "Recounting History. Constructing a national narrative in the Hong Kong Museum of History". In Knell, Simon; Aronsson, Peter; Bugge Amundsen, Arne (eds.). National Museums: New Studies from Around the World. Routledge. pp. 339–354. ISBN9781317723141.
Reynold, Tsang. "The ‘death’ and ‘rebirth’ of museums in colonial Hong Kong: three decades of community endeavours to restore reputation and culture, 1933–1962." Museum History Journal, published online, 2024. Taylor & Francis, (https://www.tandfonline.com/doi/full/10.1080/19369816.2024.2409263).