The street was named after William Paterson,[1] a partner of Jardine Matheson & Co., the company which owned most parts of today's Causeway Bay in the 19th century. The first McDonald's branch in Hong Kong was opened on 8 January 1975 in Hang Lung Centre, on Paterson Street.[2]
Illegal parking and waiting is a persistent problem along Paterson Street.[citation needed] In the 1990s, the southern portion of Paterson Street, between Great George Street and Yee Wo Street, was restricted to buses, and then in July 2000, converted to a pedestrian street.
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