Abstract Formative assessment is currently receiving an increasing amount of attention in the field of language teaching and learning. This case study has continued that focus by investigating the “assessment for/as learning” experiences of secondary EFL learners in Macau. Firstly, this study aims to explore the landscape of “assessment for learning” by focusing on teacher feedback and peer feedback. Secondly, this study aims to investigate the story of “assessment as learning” by focusing on learners’ self-assessment. A multi-method approaches underpinned this study. This approach involving the adoption of student questionnaires, student interviews and teacher interviews. 106 students who come from two high schools in Macau completed FES questionnaires. Follow-up interviews with four students and four English teachers were then conducted. Research findings revealed that students significantly preferred teacher feedback and wanted more teacher feedback for their “assessment for learning” experiences. However, time limits and heavy workloads have largely restrained teacher feedback’s quantity as well as quality. Compared with teacher feedback, peer feedback received much more complaints due to a range of hindering variables such as students’ inactive attitudes, students’ poor English proficiency, friendship bias among students and so on. Regarding students’ self-assessment realization, teacher/peer feedback reception have been found to be helpful in building up learners’ performance awareness. However, students’ self-assessment still appeared to be hampered by a range of undesirable factors such as teachers’ knowledge gap in assessment practices and non-confidence in students’ competence, students’ exam-oriented learning style and the lack of learner autonomy, educational authority’s emphasis on summative assessments and so on, all of them seemed to be in an intricate relationship with one another for the hampered self-assessment realization. Research findings in this study contribute to an understanding of the dynamic nature of formative assessment under specific context. This paper concludes with some applicable implications for English educators, teacher education institutions and educational authorities under similar AsianEFL/ESL context. Keywords: teacher feedback; peer feedback; self-assessment; EFL; Macau; high school