The year under review (1 July 2003 - 30 June 2004) is the 13th year of the Hong Kong University of Science and Technology. We are still a young university and our focus on extending the frontiers of knowledge, through research, teaching and learning in science, technology, business and the humanities, makes us a unique institution in Hong Kong.

The past 12 months have seen an increased awareness of the essential role the University has always sought to fulfill in Hong Kong. This development — as with all recognition of achievement and endeavor — has been an uplifting one for us.

A major indication has been our success in fund-raising during 2003-04 and the tremendous response of the whole community to a multitude of initiatives that will help guarantee the University's future development. The money raised will advance HKUST along the road of discovery, and enable us to continue to build programs that inspire and prepare young people to lead the way in tomorrow's world. It also shows that the wider community values HKUST's work as well as the important role we play in the economic and social development of Hong Kong.

HKUST has made a highly positive start to a new era in the tertiary education sector, where fund-raising has become a vital feature of the landscape. Consequently, we will continue to achieve new goals as we strive in our incessant pursuit of excellence.

We look forward to the community's support continuing in the years to come. With it, and in collaboration with other tertiary institutions both in and outside Hong Kong, our internationally respected research achievements and scholarship will progress from strength to strength, ensuring that Hong Kong retains its place at the forefront of developing fields of key importance in our rapidly changing world.

I would also like to highlight the collective efforts of my colleagues on the Council, Court and Senate, the academic and administrative staff, and the students, who have worked so effectively throughout the year to move the University ahead and strengthen our unique identity.

Together, community and campus are a powerful force. Indeed, with our shared characteristics of adaptability, hard work and progress, HKUST and Hong Kong form a wonderfully dynamic combination and, as this annual report shows, each can energize the other for the challenging, but exciting, times ahead.