The Hong Kong Cricket Association (HKCA) has made it clear the team is not under investigation from the ICC's anti-corruption unit (ACU).
Ronnie Flanagan, the chairman of the ACU, confirmed last week that an international team was the subject of an investigation ahead of the World Twenty20 in India.
ICC chief executive David Richardson subsequently said Flanagan's comments related to the recent suspension of a player, an apparent reference to Hong Kong's Irfan Ahmed having been sanctioned in January.
However, a statement on Friday read: "The Hong Kong Cricket Association today announced that the ICC has confirmed to it that recent media reports regarding the Hong Kong squad have been seriously misleading."
HKCA chief executive officer Tim Cutler added: "Ordinarily, neither a board nor the ICC comments on matters relating to ACU activities or investigations, but, following a range of comments and subsequent media reports that suggested that the Hong Kong team is under investigation, we feel it is imperative to clarify these misleading and damaging reports.
"The HKCA has received confirmation from Sir Ronnie Flanagan, the chairman of the ICC Anti-Corruption Unit, that the Hong Kong squad is under no greater scrutiny than any other squad involved in the current ICC World Twenty20 India 2016.
"[ICC chief executive] David Richardson also clarified in a press conference in Delhi on Wednesday that all teams involved in the ICC World Twenty20 2016 will be equally monitored, as per usual ICC practice, to isolate them from any attempts to corrupt them or the results of their matches.
"Sir Ronnie Flanagan has expressed his deepest gratitude for HKCA's assistance in the ongoing fight against corruption, and in particular, our support of recent ACU activities.
"Naturally, we are very disappointed that this matter has been raised in this manner and at this time, but we thank the ICC for clarifying the matter, and publicly supporting Hong Kong and our efforts to combat corruption.
"We are here to play cricket and will now move on from this matter to focus on the remainder of the tournament."