Tung Chee Hwa, chief executive of the Hong Kong Special Administrative Region (SAR), said Monday that the building of a university is a collective mission of the community, and it stands for the belief that betterment of the society can be achieved through higher education.

At the Hong Kong University of Science and Technology (HKUST) 10th Anniversary Launching Ceremony Monday, Tung said the decision to build HKUST symbolizes the community's recognition of the importance of promoting science and technology education in Hong Kong.

"We must rely on innovation and technology to improve our productivity, enhance competitiveness, and add value to our products and services," he pointed out.

"What's more, in a knowledge economy, human capital counts for more than physical and financial capital; and education background certainly counts for more than family background," he said.

Tung said he has set a goal in his last Policy Address to increase the number of people who are able to get post-secondary education to 60 percent within 10 years.

"I have every confidence that we will achieve this goal. To do so, we need not only financial resources, but also a more innovative and flexible approach to providing post-secondary education."

"But above all else, we need to ensure both quality and quantity of our universities and post-secondary education institutions," he said.

Tung also praised HKUST for setting an excellent example in higher education.

HKUST is ranked by Asia Week as one of the top ten universities in Asia. Its School of Business and Management is listed in the Financial Times' Top 50 business schools in the world.

(Xinhua 04/24/2001)