As many as 100,000 spectators are expected for the Cathay International Chinese New Year Night Parade organised by the Tourism Board, with the event taking place from 8pm to 9.45pm on Wednesday.
A check by a Post reporter at 4pm found the Tsim Sha Tsui promenade between the Star Ferry Pier and the Cultural Centre cordoned off for the parade, with the floats parked outside the Museum of Art and performers rehearsing.
Tickets for seated places, priced between HK$300 (US$39) and HK$480, were sold out on the first day that they were made available. But members of the public can still see the parade along the route for free.
A few dozen residents and tourists arrived early to secure roadside spots.
University student Chloe Tam, 21, and a few of her friends were among about a dozen people waiting next to the Clock Tower.