| Tournament details | |
|---|---|
| Host country | Hong Kong |
| Dates | 23 – 26 January |
| Teams | 4 |
| Venue(s) | 1 (in 1 host city) |
| Final positions | |
| Champions |  Russia (1st title) |
| Tournament statistics | |
| Matches played | 4 |
| Goals scored | 13 (3.25 per match) |
| Top scorer(s) |  Anto Drobnjak (3 goals) |
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All times given in Hong Kong Time (UTC+8).
| Russia | 1–1 | FR Yugoslavia |
|---|---|---|
Popov  62' | Drobnjak 40' | |
| Penalties | ||
| 6–5 | ||
Hong Kong League XI  | 1–4 |  Switzerland |
|---|---|---|
| Muir 55' | Yakin 32' (pen.) Kunz 38', 70'Weiler 90' |
| Hong Kong League XI | 1–3 | FR Yugoslavia |
|---|---|---|
| Silva 60' | Milosevic 7' Drobnjak 17', 32' |
| Russia | 2–1 | Switzerland |
|---|---|---|
| Simutenkov 23', 25' | Thuler 80' |
| Semi-finals | Final | |||||
| 23 January 1997 – Hong Kong | ||||||
| Russia (pen.) | 1 (6) | |||||
| 26 January 1997 – Hong Kong | ||||||
| FR Yugoslavia | 1 (5) | |||||
| Russia | 2 | |||||
| 23 January 1997 – Hong Kong | ||||||
| Switzerland | 1 | |||||
| Switzerland | 4 | |||||
 Hong Kong League XI | 1 | |||||
| Third place | ||||||
| 26 January 1997 – Hong Kong | ||||||
| FR Yugoslavia | 3 | |||||
| Hong Kong League XI | 1 | |||||
| 1997 Carlsberg Cup Winner |
|---|
 Russia First Title |
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