In Hong Kong- a city where media are well-developed, news people flow is relatively higher than other places. This paper attempts to find out the status quo, causes and impact of such a phenomenon by conducting a series of in-depth interviews with eight reporters and three editors with four separate leading newspapers in the city. The results showed that the mobility of Hong Kong newspaper journalists is accelerating while they tend to work for a relatively more stable industry. Low pay and gloomy career path are the two main reasons for their mobility. Also, news people mobility will help boosting the vitality of the press but reducing its expenditures. As a result, the management refuses to retain the outgoing journalists when taking into account of the economic benefits. According to the conclusion drawn above, this paper raises several suggestions to journalists, newspapers and the industry as well.