An examination is reported of data from The Progress in International Reading Literacy Study (PIRLS) 2001, with samples of 5,050 Hong Kong Grade 4 students, 5,050 parents, 147 teachers and 147 school principals. The analyses examine the relationship between family capital (financial, human and social) variables and students’ reading comprehension of informational and literary texts. Positive correlations were found between reading attainment and most family variables, with parents who read regular-ly to their children helping to promote reading competence in their offspring. These parents are well placed to provide a stimulating learning home environment for their children and serve as positive role models. Regression analyses of the data support the expectation that children accustomed to books and exposed to reading at home are not overwhelmed by the reading assignments they encounter in school. Negative correlations were found that reflect cultural idiosyncrasies. For example, the traditional unwillingness of Chinese parents to be seen going to the school to talk about their children’s scholastic progress. It is suggested that many parents in Hong Kong possess the wherewithal to assist their children to learn to read with understanding but that some need guidance from schools about using their influence to ensure the best effect.