The Hong Kong University of Science and Technology said yesterday it would launch a drive for donations following funding cuts.
University council chairman Vincent Lo Hong-sui said the institution had to seek more donations, particularly from the business sector, after the Government's decision to cut funding for universities over the next three academic years.
Funding for the eight tertiary institutions will be cut by $1.9 billion, or four per cent, to $36.2 billion over the period.
Mr Lo, also president of the Business and Professional Federation, said: 'We will step up our publicity drive to let the community know more about our accomplishments over the past 10 years.'
Private donations account for less than one per cent of the total expenditure of the university, which began its 10th anniversary celebrations yesterday.
'We know that in the light of the economic downturn, seeking business donations is a difficult task,' he said, adding that the university had no set target.
