Hong Kong's population rose by 152,000, or 2.1 percent, from mid-2022 to the middle of this year, according to government estimates released on Tuesday.
Provisional figures from the Census and Statistics Department showed the SAR's population jumped from 7,346,100 to 7,498,100, ending a downward trend since 2020.
Officials said the territory saw a net inflow of 174,000, including 31,000 one-way permit holders.
A government spokesperson put the increase down to the SAR's efforts to attract outside talent, and the resumption of cross-border travel following the relaxation of Covid measures.
"Many Hong Kong residents who stayed abroad during the epidemic have returned to Hong Kong, while some mainland and overseas persons have also been admitted to Hong Kong through various schemes. A large net inflow of Hong Kong residents was hence recorded in the first half of 2023," the spokesperson said.
The department said 32,600 babies were born in Hong Kong over the 12-month period, while 54,600 people died.
Separately, the SAR's population could reach 8.19 million by mid-2046, according a new set of projections based on mid-2021 figures.
The administration said the number of individuals aged 65 or above would nearly double in 2046, where more than one in every three people in Hong Kong will be an elderly.
But the city's fertility rate is expected to remain low.