The University of Hong Kong Museum Society was established in 1988 by Mrs. Margaret Wang, whose husband Dr. Wang Gungwu, was Vice-Chancellor of the University of Hong Kong from 1986 to 1996. For over twenty years, the Museum Society, a non-profit organization, besides supporting the University of Hong Kong Museum and Art Gallery (UMAG), has become a vital force in the promotion of art and culture in the Hong Kong community.

The Museum Society is governed by an Executive Committee comprised of volunteer members. The Committee organizes a variety of regular activities related to art and culture, including lectures and seminars, museum and gallery tours, visits to private collections and artists’ studios, heritage walks and overseas trips. Proceeds generated from the Society's activities are donated to the UMAG for the acquisition of selective artworks, the sponsorship of special exhibitions and notable programs, as well as to the University of Hong Kong and the local community for the support of educational initiatives.

Its yearlong twentieth anniversary celebration in 2008 consisted of a series of momentous endeavours, including the sponsorship of the world acclaimed "The Silk Road in Ningxia" exhibition, a fundraising Gala Dinner at the historic Loke Yew Hall and the commencement of a scholarship fund for the students of the University's Fine Arts Department.

Bearing a legacy of over 58 years, UMAG is one of Hong Kong's oldest and most distinguished museums. Situated in the elegant and historic Fung Ping Shan Building and the adjoining T.T. Tsui Building, the Museum has over 1,500 pieces of Chinese antiquities in ceramics, bronzes, paintings, Chinese oil paintings, as well as carvings in jade, wood and stone.