The invention discloses a hollow glass heat insulating strip and manufacturing equipment which are mainly used for manufacturing hollow glass doors and windows and curtain walls for building heat preservation. The hollow glass heat insulating strip comprises a plastic layer, transition layers and a metal layer; the transition layers are respectively applied to the inner surface and the outer surface of the metal layer; the plastic layer wraps the transition layers; the plastic layer and the metal layer are bonded together by the transition layers. The equipment comprises a solvent degreasing unit or plasma degreasing unit, a U-shaped strip forming device and a rolling device; a first plastic extruder is used for extruding the transition layers, and a second plastic extruder is used for extruding the plastic layer; a complete strip-shaped coiled raw material of the metal layer is rolled into a U-shaped strip by the U-shaped strip forming device; the U-shaped strip formed by rolling penetrates a first die, a first cooling device and a second die to enable the transition layers and the plastic layer to be separately applied to and wrap the metal layer. Heat insulating property, sound insulating property and sealing property are obviously increased, a process flow is simplified, production efficiency is increased, and product quality is stable and reliable.