The Queen Elizabeth II Cup was first run at the Happy Valley Racecourse in Happy Valley, Hong Kong to commemorate a visit to Hong Kong by Queen Elizabeth II and Prince Philip, Duke of Edinburgh. It was a local Class 1 or 2 race over a distance between 1,400 and 1,800 metres until 1995 when it opened to international entries. Since then, Hong Kong horses have been competing against those from the United Arab Emirates, the United Kingdom, France, Japan and Australia.[1]
The Queen Elizabeth II Cup has been sponsored by the Swiss haute horlogerie brand Audemars Piguet for around 17 years now, they continue to make special edition pieces (mostly based on the Royal Oak) to celebrate their sponsorship of the event. They join companies such as Omega SA, Rolex and Longines as one of the official sports event partners that provide both sponsorship and race timers.
Due to the COVID-19 outbreak, no overseas horses entered the race in 2020 and this international Group 1 event became a local race.