Dr Chui said yesterday that an extra private university could ease the pressing demand for university places after the 2012 '3+3+4' senior secondary structure reform.

The vice-chancellor of the Chinese University of Hong Kong, Lawrence Lau Juen-yee, this week expressed concern over the inadequate number of university places required to make Hong Kong an education hub, as pledged by Chief Executive Donald Tsang Yam-kuen in this year's policy address.

Secretary for Education Michael Suen Ming-yeung said last month that private universities could be the way ahead for higher education.

There are now about 14,500 government-funded university places.

Dr Chui said the new university would enrol 2,000 undergraduates in four faculties: finance, accounting, commerce, and language and mass communication. Twenty per cent would be non-local and half would study for associate degrees.

The proposed university would need an extra 35 teaching staff and professors to bolster the existing complement of about 70.

'We are aiming to become a teaching university with research aspirations. Teaching quality will be emphasised,' Dr Chui said.

Both local and overseas students would be expected to pay tuition fees ranging from between HK$35,000 and HK$42,100, in line with other local public universities.

'We are waiting for the government to approve the four land applications by the end of 2008 so the new campus can be ready by 2011,' Dr Chui said.

'It is really hard to find other institutions that are as well prepared as we are, especially in areas like our strong financial background, good teaching quality and excellent campus location,' he said.

Dr Chui said the school would offer its first bachelor of business studies in 2009.