Press Releases

Hong Kong University unveils major gift

05 May 2005


HKU President Says $128 Million Donation Will Propel Universitys Role

in Chinas Economic Development and Global Integration

NEW YORK The president of Hong Kong University, Hong Kongs oldest and most prestigious institution of higher education, said today the Li Ka-shing Foundation will donate HK $1 billion (US $128 million) to help fund the universitys emerging role as a key player in Chinas economic growth and global dealings.

In remarks to HKU alumni and business and community leaders at the Yale Club of New York, President and Vice Chancellor Lap-Chee Tsui said he was delighted, really overjoyed by the news and thanked Li Ka-shing, Chairman of global conglomerate Hutchison Whampoa Ltd. and Asias most prominent philanthropist, for his commitment to research and education.

In our business, money supports only excellence, Tsui said. This unprecedented gift not only represents a strong endorsement of our excellence but also sets a milestone for philanthropy in Hong Kong. This donation will propel the university to new heights, to push forward the boundaries of learning.

Hong Kong University, whose early graduates included Dr. Sun Yet-San, founder of modern China, is Hong Kongs leading institution of higher learning. It attracts distinguished academics from all over the word. Its graduates are those who bridge China and the international community. It is famous for nurturing Chinas business leaders and senior officials, and hosts an Asian Center of the World Trade Organization. Outstanding research areas range from biomedicine to China studies.

The Li Ka-shing Foundation was established in 1980 to coordinate Mr. Lis support of education and medical care as twin pillars of society. The Foundation, and other entities set up by Mr. Li, have supported numerous charitable activities with grants, sponsorships and commitments of approximately HK $7.6 billion (US $970 million).