HKUST Receives HK$100 Million Donation from Yuexiu for University’s Development

The Hong Kong University of Science and Technology (HKUST) held the “Yuexiu Group Donation Presentation cum HKUST-Yuexiu Group One Million Dollar International Entrepreneurship Competition Grand Final Sponsorship Ceremony” today, to express its gratitude for a HK$100 million donation made by Yuexiu Group (Yuexiu) in support of the University’s efforts in research, innovation and talent grooming. The group will also provide HKUST with a RMB10 million sponsorship for the cultivation of quality entrepreneurial projects in Guangzhou and Hong Kong, in order to enhance the concerted efforts of knowledge transfer in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

The ceremony’s officiating guests included: Mr. Kevin YEUNG Yun-Hung, Secretary for Education, HKSAR; Mr. YANG Jian, Deputy Director of the Liaison Office at the Central People’s Government in the HKSAR; Mr. YANG Yirui, Deputy Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the HKSAR; Mr. CAI Chaolin, standing member of the CPC Guangzhou Committee and Party Chief of Nansha district; Mr. ZHANG Zhaoxing, Chairman of Yuexiu; Mr. ZHU Chunxiu, General Manager of Yuexiu; Mr. Andrew LIAO Cheung-Sing, HKUST Council Chairman and Prof. Wei SHYY, HKUST President.

As a notable state-owned enterprise in Guangzhou, Yuexiu’s donation to HKUST exemplifies the deepening industry-academia collaboration between Hong Kong and Guangzhou. Guangzhou has been a long term partner of HKUST; apart from Fok Ying Tung Research Institute – the University’s major knowledge transfer base established in Nansha in 2007, HKUST also signed an agreement with the Guangzhou Municipal Government last year to establish a new campus in Guangzhou, adding fuel to the technological innovation in GBA.

The HK$100 million donation from Yuexiu will be used to promote HKUST’s academic and research work, develop innovative and interdisciplinary graduate programs, as well as recruiting top scholars. Yuexiu is also sponsoring Grand Final of HKUST’s ninth annual One Million Dollar Entrepreneurship Competition, which will be renamed “HKUST-Yuexiu Group One Million Dollar International Entrepreneurship Competition Grand Final” in recognition of the group’s generous support. Through funding quality and innovative projects, the competition seeks to promote the integration of industries and technology and drive the enhancement of innovative industries in GBA.

Mr. ZHANG Zhaoxing, Chairman of Yuexiu, said at the ceremony that the group’s donation to HKUST will enhance exchange and interaction between the two core cities of GBA, allowing quality development and in-depth integration among the governments, industries, academia and research, bringing about a win-win situation. He said Yuexiu is now in a critical stage of transformation into a new development model driven by operation, resources and innovation, the partnership with HKUST will promote better interface between corporate capital and research achievements, thus strengthening technology transfer and industrial upgrade.

HKUST Council Chairman Mr. Andrew LIAO Cheung-Sing expressed his gratitude towards the donation, “As the largest state-owned enterprise in Guangzhou, Yuexiu was founded in Hong Kong and has long served and contributed to both places with passion. Cooperation between the industry and academia is a key to the transformation of GBA into an international innovation hub. This significant donation by Yuexiu not only demonstrates its long-term commitment in corporate social responsibility and sustainable development, but will also support HKUST’s development in talent cultivation and knowledge transfer.”

HKUST President Prof. Wei Shyy said, “HKUST and Yuexiu share the common goal of driving changes through innovation. The University is actively engaged in advancing cross-disciplinary pursuit for our innovation agenda, and our planned Guangzhou campus will support this priority. We believe the new campus will have synergies with the Guangzhou-based Yuexiu. HKUST is deeply thankful to the group’s trust and support. I hope this partnership would also help strengthen Yuexiu’s and HKUST’s venture in innovation and entrepreneurship in GBA.”

Founded in Hong Kong in 1985, Yuexiu has established a modern industrial system with finance, real estate, and transportation infrastructure as its core business, as well as a number of traditional and strategic emerging industries after more than 30 years of development. The Group has been vigorously advocating technological innovation and actively promoting innovation and entrepreneurship. More recently, the group has set up a special innovation fund of RMB 100 million to help incubate and launch outstanding projects of innovation competitions.

About The Hong Kong University of Science and Technology

The Hong Kong University of Science and Technology (HKUST) ( ) is a world-class research university that focuses on science, technology and business as well as humanities and social science. HKUST offers an international campus, and a holistic and interdisciplinary pedagogy to nurture well-rounded graduates with global vision, a strong entrepreneurial spirit and innovative thinking. HKUST attained the highest proportion of internationally excellent research work in the Research Assessment Exercise 2014 of Hong Kong’s University Grants Committee, and is ranked as the world’s best young university in Times Higher Education’s Young University Rankings 2018. Its graduates were ranked 16th worldwide and top in Greater China in Global University Employability Survey 2018.

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