With the fall of Hong Kong and the post-war urban development, there is no bronze statue of any members of the British royal family in the Statue Square, only a bronze statue commemorating bankers and ministers. In the 1960s, the government rebuilt the square to its present appearance for the citizens to have a rest.
The statue square is surrounded by high-rise buildings such as HSBC, Standard Chartered Bank, Bank of China, Prince Building and Mandarin Oriental Hotel. Although the square is small, it is one of the most famous parks in Hong Kong. There is a colonial legislative Council building and a peace monument next to the statue square. The statue square is named after the bronze statue of Queen Victoria, which was cast to celebrate the 60th anniversary of Queen Victoria's accession to the throne. The bronze statue of the queen was originally placed in this square. During World War II, Hong Kong was captured by the Japanese. The Japanese army transported the bronze statue of Queen Victoria to Japan together with the two bronze lions in front of HSBC, ready to melt it and cast it into weapons. Fortunately, Japan was defeated and surrendered before the bronze statue was melted. After the war, the bronze statue of the Queen was transported back to Hong Kong and placed in Victoria Park. Therefore, there is no statue of the Queen in the Statue Square today, but there is a statue of thomas jackson, the general manager of HSBC.