Defying
the Odds with Concerted Efforts
Balancing the Government's economic difficulties with continued
effective operation, HKUST streamlined its administration in
the triennium 1998/2001 to reduce non-teaching expenditure.
A savings of HK$70 million in non-salary expenditure was achieved
as a result, with a further 16% reduction in salary expenditure
saved through attrition over the three years. With further budget
cuts expected for the coming triennium, in 2000/01 the University
introduced a Voluntary Redundancy Scheme for non-teaching staff
to further reduce salary expenditure while maintaining a minimum
impact on research and teaching.
In concert with reduced expenditure, the University is focusing
on increasing income sources. With the support of our Council
Chairman, Dr Vincent H S LO, and Council members, we are actively
drawing up plans to solicit support from private corporations,
government departments, and the general public to secure more
resources for teaching and research.
Driven by a pioneering spirit, HKUST has scored tremendous
achievements over the past 10 years. The University was planned
and built in just five years, and has risen to international
prominence in just 10 years. All this points to a tradition
of perseverance, devotion to excellence, and rapid progress —
a tradition that guarantees our continuing growth.
Together, we will continue to nurture all-round leaders for
tomorrow, create new knowledge, develop high technology, and
promote the academic, economic, and social development of
Hong Kong and the region.
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