Governor Sir William Peel officiated at the opening ceremony of the Fung Ping Shan Library. Mr. Fung Ping Wah, son of Mr. Fung Ping Shan, expounded on his father's vision and the process of building the library.

Mr. Lin Dong, the lecturer from the School of Chinese served as the first director of Fung Ping Shan Library. 31,000 Volumes of Chinese books collected since 1912 in university libraries were transferred to Fung Ping Shan Library, including the 'Zen Wing Collection' and the Chinese Encyclopaedia Tu Shu Chi Cheng donated by former Governor Sir Cecil Clementi.

The National Library of Peiping borrowed the ground floor and the first floor of Fung Ping Shan library to set up a communication office in Hong Kong. With the fall of Guangzhou, many collectors had to relocate their collections. The collections from Dr. Wong Mo Hon, Mr. Xu Xin Fu, and Mr. Luo Yuan Jue had deposited at Fung Ping Shan Library. 

The exhibition 'Guangdong Cultural Relics' was held in the library for eight days, showcasing more than 2,000 cultural relics and attracting around 60,000 visitors. Three volumes of Guangdong Cultural Relics were published in the following year.

Mr. Chan Kwan Po, director of Fung Ping Shan Library, was awarded an OBE in recognition of his contribution to the preservation of local documents and books during the Fall of Hong Kong.

Purchased selected Song Yuan Dynasty books and manuscripts from Jiaye Tang.

Purchased 219 kinds of books of ancient seals from Dr. Lee Cho Yau. In the same year, the library also purchased the photocopies of Stein Collection in the British Museum from Toyo Bunko, with a total of 940 volumes.

Purchased the first batch of books from Luo Yuan Jue collection.

Prof. Jao Tsung-i published the Library catalog of rare books in the Fung Ping Shan Library of the University of Hong Kong, listing 15 types of Song Yuan dynasty books, 98 types of Ming dynasty books, and 108 manuscripts, with a total of 221 types of materials. The number of types of rare ancient books listed ranked the highest in Hong Kong.

Essays in Commemoration of the Golden Jubilee of the Fung Ping Shan Library (1932–1982) was published.

In addition to literature, history, philosophy and art, the Museum continued to collect genealogies, local Chronicles and overseas Chinese studies, while expanding its collection of Chinese social sciences and Taiwan studies.

Set up the mirror station of CNKI, being the first user of CNKI outside mainland China. The station had served universities and colleges in Hong Kong, Macao, Singapore, Australia, and many other countries.

The library has begun to provide OCLC with raw Chinese cataloging data for OCLC libraries to share and download.

In cooperation with the National Library of China, Fung Ping Shan Library provided Chinese books selection and cataloging services for university libraries such as Cornell University Library and Columbia University Library.

The Chinese government donated 787 kinds of Reprint of Chinese Rare Book Series, with a total of 9129 volumes.

Mr. Ng Tsz Tung donated artifacts from four generations of his family, including his great-grandfather Mr. Wu Lu, who was honored with the title Zhuangyuan.

The artifacts were exhibited in the FPS Library. 

Successfully applied for the Knowledge Exchange Fund to promote Chinese classical music in ancient books collection and integrate the collection into teaching through the digitization of ancient literatures and the 'Zok Lok Sung Dak' exhibition.

Descendants of Dr. Luo Zhen Fu donated medical books and precious cultural relics to Fung Ping Shan Library.

In addition to public exhibitions, Fung Ping Shan Library also cooperated with the School of Chinese Medicine, School of Chinese, and the Art Department to develop the Special Collection into a project under the knowledge exchange funding scheme.