The University of Science and Technology has received a donation of $33 million from the Lee Shau Kee Foundation to support its development as a leading research institute.
University president Paul Chu Ching-wu (right) appreciated the generosity of the foundation.
'This gift was made in recognition of the university's achievements in teaching, research and contributions to the community,' he said.
'As we launch the next phase of our strategic plan, the donation will provide much-needed support while enabling us to make further contributions to the social and economic development of Hong Kong, China and the world.'
Mr Lee (centre, shaking hands with UST council chairman John Chan Cho-chak) is chairman and managing director of Henderson Land Development.
He was awarded an honorary doctorate by the university last year.