[13] The third design used part of the land of the old City Hall, and was built in a mixed Art Deco and Stripped Classical style.

[13] By the 1970s, the bank had outgrown its headquarters; departments were scattered into offices all over Central, and it was obvious that such a "solution" to the space limitations could not continue indefinitely.

The decision to replace the previous headquarters marked the bank's goals for modernization and role in growth as a financial center.

The building has a modular design consisting of five steel modules, which were prefabricated in the UK by Scott Lithgow Shipbuilders near Glasgow and shipped to Hong Kong.

This approach enabled large open interior spaces and aligned with the principles of high-tech design, emphasizing exposed systems and functionality.

Conceived as a minimalist glass envelope, the new lobby is designed to be deferential to Foster's structure and appears almost to be part of the original.

It consists of eight groups of four aluminium-clad steel columns which ascend from the foundations up through the core structure, and five levels of triangular suspension trusses which are locked into these masts.

It introduces cementitious barrier coating, this process uses a special cement blend which takes humidity and increases corrosion protection rather than corroding the cladding and steel.

[24] All flooring is made from lightweight movable panels, under which lies a comprehensive network of power, telecommunication, and air-conditioning systems.

[23] Because of the urgency to finish the project, the construction of the building relied heavily on off-site prefabrication; components were manufactured all over the world.

Through the use of natural sunlight, this design helps to conserve energy and reduces energy consumption.The sun shades are provided on the external facades to block direct sunlight going into the building and to reduce heat gain.The building’s cooling system relies on seawater rather than fresh water, a solution that minimizes environmental impact in the coastal city of Hong Kong.

[18][25][24] The building was also designed to comply with safety regulations concerning typhoons and ability to shelter the public plaza on the ground floor level.

Its prominent location on Statue Square and its alignment with Victoria Harbour reflect its integration into Hong Kong’s cultural and urban identity.

The Chinese believe that those who have a direct view of a body of water—whether it is a river, a sea, or an ocean—are more likely to prosper than those who do not (water is strongly associated with wealth in feng shui).

[28] In the CBC Television series Doc Zone episode "Superstitious Minds",[29] Writer, Researcher & Associate Producer Tom Puchniak asserts that the design of the nearby Bank of China Tower ignored feng shui principles, and created instant controversy by evoking two knife edges, one pointing towards the British Government House, another towards the HSBC building.

After the Bank of China building opened, a series of mishaps occurred, including the death of the Governor,[30] and a downturn in the city's economy.

"[29] When HSBC decided to build its third headquarters at 1 Queen's Road Central, opened in 1935, it commissioned two bronze lions from Shanghai-based British sculptor W. W. Wagstaff.

[31] The lion named Stephen has shrapnel scars in its left hind-quarters dating from the fighting in the Battle of Hong Kong.