Hong Kong launched the "Pre-primary Education Voucher Scheme" (PEVS) in 2007 to promote the "3A's" of early childhood education (ECE): affordability, accessibility, and accountability. The PEVS has three unique features: discriminating against profit kindergartens, promoting teacher professional development, and limiting parents' choice to only non-profit schools. To understand the voucher scheme's perceived impacts, this study conducted stratified random sampling to include 10% of Hong Kong kindergartens and surveyed their parents, principals, and teachers. A total of 380 completed questionnaires were collected and analyzed, and the results indicated that (1) the majority of the respondents perceived positive impacts on the 3A's of ECE; (2) significant effects of stakeholders (parents, teachers and principals), school types (profit or non-profit), eligibility, and familiarity were found in between- and within-group comparisons; (3) the parents and especially those from non-profit/eligible kindergartens tended to perceive more positive impacts than others; and (4) the principals and teachers reported some implementation difficulties. Implications for voucher reform in others countries are discussed. (Contains 4 tables.)