The race was first held in 1870 as the Champion Stakes. In 1926  it was named the Chater Cup after after former Club Chairman Sir Catchick Paul Chater who was a racehorse owner and Hong Kong businessman. In 1955 it was renamed the Champions & Chater Cup. It has been run over various distance being 1800m before 1992 then over 2200m to 1992 when it became the current 2400m. It gained international Group 1 status in 2015.

It is the final leg of the Hong Kong Triple Crown where the first leg is the Stewards Cup over 1600m and the second leg is the Hong Kong Gold Cup over 2000m. The only horse to win the Hong Kong Triple Crown is River Verdon who did this in 1994.

It is the final Group 1 race of the Hong Kong racing season.

Multiple winners: Russian Emperor (2022 & 2023); Exultant (2019 & 2020); Blazing Speed (2014 & 2016); Viva Pataca (2006, 2007 & 2009); Oriental Express (1999 & 2001); Indigenous (1997 & 1998); River Verdon (1991, 1992, 1993 & 1994); Silver Lining (1987, 1979 & 1981); Super Win (1975, 1976 & 1977).

Fastest time (2400m): Viva Pataca (2022) 2:24:6

Leading trainer: Tony Cruz with 7 wins (Ivan Allen has 6 wins and John Moore has 5).

Interesting trivia:

Past winners of the Champions & Chater Cup include Rebel’s Romance (2024), Russian Emperor (2022 & 2023), Exultant (2019 & 2020), Pakistan Star (2018), Werther (2017), Blazing Speed (2014 & 2016), California Memory (2013), Mighty High (2011), Viva Pataca (2006, 2007 & 2009), Vengeance Of Rain (2005), Super Kid (2004), Oriental Express (1999 & 2001), Indigenous (1997 & 1998), River Verdon (1991, 1992, 1993 & 1994), Silver Lining (1987,1979 & 1981) and Super Win (1975, 1976 & 1977).