Background: The five components (5Cs) positive youth development (PYD) model has been demonstrated to be applicable in many Western societies. The cultural framework of youth development can be different in Chinese-dominated communities. Objective: This study aimed at examining the dimensionality of the 5Cs to inform whether positive youth development in Hong Kong is similar to that in Western literature by validating and calibrating the Positive Youth Development Scale--Very Short Form (PYD-VSF) with secondary school students in Hong Kong. Method: Participants (N = 4797) aged 12-19 years old completed a questionnaire. The validation and calibration were achieved by stepwise confirmatory factor analysis (CFA). Regression analyses between extracted PYD factor scores of components and a set of criterion variables (e.g., suicidal ideation and various aspects of life satisfaction) was performed to discover the characteristics of the sample from PYD perspectives. Results: The 5Cs components presented in previous literature was re-generated through the reduction of a few culturally responsive and inconsistent items. Although efficacious development (competence and confidence) and sociomoral components (connection, caring and character) were maintained in the sample, a reversely correlated relationship between these two components was found. The component "connection" was particularly significant in predicting various aspects of life satisfaction and reduced suicidal ideation among young people in Hong Kong. Conclusions: The findings suggested that youth development in Hong Kong might not follow the direction and expectation proposed in the original 5Cs framework, which has been established mainly by young people cultivated or educated in Western culture.