Local institutional trust has dropped for the third consecutive year from 67% in 2013 to 47% in 2015, according to a survey from Edelman.
For the first time, this evaporation of trust is seen among all four institutions and captures the lowest overall trust ratings since Edelman began surveying the special administrative region in 2012.
Among the global rankings, HK has dropped from being the fifth most "trusting" nation in 2013, to a "distrusting" level this year, ranking seventeenth out of 27 markets surveyed.
Trust in NGOs, government, business and media was reported at 63%, 42%, 42% and 41% respectively. Media experienced the biggest drop of 22 percentage points from last year, followed by a significant 14 percentage point drop of trust in NGOs.
"Following another turbulent year, Hong Kong is facing unprecedented changes in its trust landscape, and institutions face an immediate challenge to rebuild trust," said Bob Grove, North Asia CEO of Edelman.
"There is a trust vacuum in Hong Kong. Business needs to view this as more than an opportunity to lead, it's a call to action to put purpose on a par with profit." he added.