Four domains of developmental issues of university students in Hong Kong are examined in this paper. First, behavioral and lifestyle problems of university students are identified, including alcohol consumption, Internet addiction, cyber-pornography, irregular sleep patterns, and interpersonal violence. Second, the mental health problems of university students, including suicidal ideation, depression and anxiety problems, are outlined. Third, issues on self-determination (including establishment of personal goals), self-confidence, and materialism of the students are reviewed. Fourth, issues related to students' connection to the society, including egocentrism and civic engagement, are discussed. The views of employers about university graduates in Hong Kong are also examined. With the emergence of developmental issues among Hong Kong university students, it is argued that promoting the psychosocial competencies of university students via positive youth development programs is an important strategy in addressing such issues.