Some government departments such as the Accounting and Financial Reporting Council have relocated their offices from Central and Wan Chai to Quarry Bay over the years, and some multinational companies have their offices located in the district, such as Ernst & Young, BNP Paribas, LVMH and Boston Consulting Group, etc.

Cityplaza and Kornhill Plaza, being one of the largest shopping malls on Hong Kong Island is at Quarry Bay.

With dense population as well as developed economic and commercial activities in the district, Quarry Bay has a considerable traffic demand.

Historians such as Anthony Kwok Kin Siu suggested Quarry Bay was a remote area before British colonial time.

The Chinese name Tsak Yue Chung (鰂魚涌) reveals that it was a small stream where crucian carp (鰂魚) could be found in the 19th century.

The river originally flowed into the bay, however it was shut off from the sea with the construction of the Tai Koo Reservoir [zh-tw] to supply fresh water to the Taikoo Dockyard, the Taikoo Sugar factory at Tong Chong Street (糖廠街), and later the Swire Coca-Cola factory at Greig Road (基利路) and Yau Man Street (佑民街).

The western end of Quarry Bay was historically part of North Point; during the 1930s its beaches became one of the most popular places for holding swimming galas in Hong Kong.

Nonetheless, for years afterwards, the western part of Quarry Bay continued to be known informally as Lai Chi (麗池), made more so by the name being homophone to Cantonese for "late as usual" (例遲) – a reference to King's Road, until 1984 the only thoroughfare in the area and thus infamous for traffic congestion.

In addition to the fireboat itself, the Gallery houses a number of multimedia exhibits on the vessel's history and on firefighting in Hong Kong.

Woodside Biodiversity Education Centre [zh-tw] situated at Mount Parker Road, Quarry Bay.

The centre comprises three themed exhibition galleries introducing Hong Kong's precious natural resources and biodiversity.

Hikes throughout Quarry Bay are often packed with resting benches, washrooms, pavilions, mappings as well as trash bins.