One of the most striking aspects of Hong Kong 97 is its eclectic content. Some issues featured seemingly innocuous articles on food, travel, and entertainment, while others contained cryptic messages, eerie graphics, and what appeared to be thinly veiled propaganda. The magazine's editorial stance was often bewildering, veering wildly between pro-Beijing and pro-Taiwan sentiments, leaving readers scratching their heads.

Hong Kong 97 was first conceived by a group of entrepreneurs who sought to capitalize on the city's growing popularity as a cultural and financial hub. The magazine's initial issues were met with moderate success, featuring articles on local celebrities, fashion trends, and lifestyle pieces. However, as time went on, the publication began to take on a life of its own, with many speculating that its true purpose went beyond mere journalism.

Despite numerous attempts to uncover the truth, the publisher of Hong Kong 97 remained shrouded in mystery. Various theories emerged, suggesting that the magazine was backed by shadowy government agencies, organized crime syndicates, or even foreign intelligence services. The lack of transparency surrounding the publication's funding and ownership only fueled the speculation.