The Research Grants Council (RGC) is assisted in its work by five specialist subject panels, responsible for: Engineering; Physical Sciences; Biology & Medicine; Humanities & Social Sciences and Business Studies. A Mechanical, Civil & Materials Engineering and System Design Sub-Panel is formed under the Engineering Panel to handle the applications relating to this area whilst an Arts and Humanities Sub-Panel and a Public Policy Research / Strategic Public Policy Research Sub-Panel are also formed under the Humanities & Social Sciences Panel to handle the related applications. These panels consist of local and overseas academics. In assessing applications for research grants on the basis of peer review, the panels work through a network of reviewers, comprising recognized experts in their fields both in Hong Kong and overseas.

The RGC has one sub-committee, namely, the Collaborative Research Fund Sub-Committee. It is charged with selecting major collaborative research equipment and group research projects for support by the Council through the Collaborative Research Fund, as well as monitoring funded projects.

The RGC meets twice a year in Hong Kong, usually in December and June. The December meeting is devoted primarily to resource allocation among various established and new funding initiatives for the following year. The Collaborative Research Fund Sub-Committee meets in December and submits its recommendations to the RGC meeting for endorsement. The June meeting is mainly concerned with the allocation of the General Research Fund and Public Policy Research Fund. The Council pays an annual visit to one of the institutions on a familiarisation basis. The panels normally meet once a year, prior to the RGC June meetings, mainly to consider applications for allocations from the General Research Fund as well as to monitor on-going projects and assess completed projects.

The RGC is serviced by the UGC Secretariat. The Deputy Secretary-General (2), UGC is concurrently the Secretary, RGC while the Assistant Secretary-General (Research) (1) serves as Secretary to the Collaborative Research Fund Sub-Committee and the specialist panels.