This paper provides a critical assessment of the key recommendations for internationalising higher education in Hong Kong issued by the University Grants Committee in December 2010. Key topics include the rationale for internationalisation, the process by which internationalisation will be carried out, the proposal that Hong Kong aspire to become a regional "education hub," the roles of English, Cantonese and Putongua in instruction and the impact of internationalisation on curriculum reform and student learning. In general, the report represents a missed opportunity to provide clear and compelling guidance to the university sector in Hong Kong regarding internationalisation.