Responses from University Grants Committee on 2025-26 Budget
The following is issued on behalf of the University Grants Committee:
The 2025-26 Budget promulgates a number of financial measures relating to the higher education sector. The Chairman of the University Grants Committee (UGC), Mr Tim Lui, welcomes the Government's approval of the recurrent funding to the UGC-funded universities for the 2025/26 to 2027/28 triennium (2025-28 triennium) as well as the allocation of an additional $1.5 billion for a new round of the Research Matching Grant Scheme. They represent the continuous investment in the future, which injects impetus into the higher education sector, while promoting the effective use of resources in the universities as they forge ahead.
The recurrent funding for the UGC-funded universities in the 2025-28 triennium has reflected the magnitude of efficiency savings applied government-wide, i.e. a progressive 2 per cent reduction each year cumulatively to achieve total savings of about $2.8 billion. In addition, the UGC-funded universities will return $4 billion from their balances of the General and Development Reserve Fund (GDRF) to the Government on a one-off basis in the 2025-26 financial year. Together with the savings of $1.2 billion following the increase in the tuition fee level in the 2025-28 triennium, such measures will yield benefits that worth $8 billion to the public coffer altogether.
In accordance with the established mechanism, the recurrent subvention requirement of the UGC-funded sector in the 2025-28 triennium amounts to $70.9 billion, whereas the recurrent funding as approved by the Government is $68.1 billion. In other words, there is a reduction of $2.8 billion over three years, resulting in a 4 per cent average reduction rate.
The UGC-funded universities retain their unspent recurrent grants from the UGC as the GDRF to buffer against variations in cash flow requirements. As of June 30, 2024, the aggregate balance of the GDRF of all universities totalled $11.1 billion. The $4 billion to be returned to the Government accounts for more than one-third of such reserve funds.
Mr Lui said, "Over the past years, the Government had allocated abundant resources to propel the vibrant development of our higher education sector, including various new UGC initiatives for universities to step up their roles in nurturing talent and advancing scientific research. With such support, we have garnered international reputation for our higher education sector that we take pride in. At this critical juncture, the higher education sector is demonstrating their solidarity with the wider community. The UGC believes that our universities will continue their efforts in advancing excellence in teaching and research with valuable public resources, thereby contributing towards developing Hong Kong into an international hub for post-secondary education and building our nation into a leading country in education."
Speech by CS at Nobel Heroes Forum: Shaping Science and Future
Following is the speech by the Chief Secretary for Administration, Mr Chan Kwok-ki, at the Nobel Heroes Forum: Shaping Science and Future today (January 12):
Dr Wong (Chairman of the University of Hong Kong (HKU) Council, Dr Peter Wong), Professor Zhang (President and Vice-Chancellor of the HKU, Professor Zhang Xiang), Mr Turner (Executive Director of Foundation Lindau Nobel Laureate Meetings, Mr Nikolaus Turner), distinguished Nobel Laureates, esteemed scientists,ladies and gentlemen,
Good morning. It is my great pleasure to join you today for the Nobel Heroes Forum: Shaping Science and Future.
To our Nobel Laureates – we are truly privileged to have you with us. You represent the very best of human curiosity and perseverance. Your ground-breaking work expands our understanding of the universe, lights the path for future discovery, and inspires generations. Thank you for joining this extraordinary gathering.
And to all our distinguished guests from around the world – a very warm welcome to Hong Kong.
Today's dialogue is more than an academic event. It is a powerful convergence of the world's finest scientific minds, right here in a city that is determined to play its part in global innovation.
Hong Kong's mission is clear and unwavering: to become a premier international innovation and technology centre. A hub where top scientists, scholars and entrepreneurs can thrive, collaborate and serve the world.
To achieve this, the Government is fully committed. We are building a world-class ecosystem and nurturing the talent to power it.
First, we are building the infrastructure for greatness.
We have established a strategic I&T framework centred on three major I&T (innovation and technology) parks and five key research and development institutions.
Building on the success of the Science Park and Cyberport, we officially launched the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone last month.
The Hetao Co-operation Zone is a major co-operation platform in the Guangdong-Hong Kong-Macao Greater Bay Area under the National 14th Five-Year Plan. The Hong Kong Park is envisioned as a world-class hub for technological innovation, connecting the Chinese Mainland with the international community, and serving as an important source for fostering new quality productive forces.
Together with our five key R&D (research and development) institutions focus on frontier technologies, these developments will create more favourable conditions for Hong Kong to attract global I&T resources and talent.
Second, we are investing decisively.
We back our words with resources. We have launched significant funding schemes across the entire innovation chain.
To support excellent and impactful research, the Research Grants Council (RGC) under the University Grants Committee administers more than 20 competitive research grant and fellowship schemes.
Furthermore, last year we launched the 3 billion HK dollars Frontier Technology Research Support Scheme to empower ground-breaking basic research led by world-class researchers and academics.
To accelerate the midstream and downstream development, we rolled out three separate 10 billion HK dollars initiatives to drive the commercialisation of R&D outcomes and new industrialisation.
Third, and most crucially, we are nurturing and attracting top talent.
Talent is our ultimate driving force. We are expanding our talent pool through multiple strategies.
On nurturing young research talent, the Government has launched the Young Collaborative Research Grant to support early-stage researchers in leading and managing collaborative research. We are also actively fostering research collaboration between Hong Kong, the Chinese Mainland and overseas research funding agencies through operating various Joint Research Schemes. These partnerships not only foster academic exchange but also provide opportunities to nurture researchers in exploring new frontiers in their respective fields.
On attracting global talent, the RGC Junior Research Fellow Scheme has supported some 300 doctoral graduates from Hong Kong and around the world to pursue research careers at our universities.
Our international research flagship, the InnoHK research clusters, is also there to bring together brilliant minds from all over the world to conduct world-class scientific research. To date, our two existing InnoHK research clusters – one focusing on healthcare technology and another on AI and robotics – have successfully built links with over 30 world-class universities and research institutes from 12 economies, pooling together around 3 000 researchers locally and across the globe.
To go further, the Government is now expediting the development of the third InnoHK research cluster, with the focus on sustainable development, energy, advanced manufacturing and materials.
Our strategy follows a powerful cycle: promoting technology with talent, leading industries with technology, and attracting talent with industries.
And we are seeing results. Hong Kong ranks third globally in "Technology" in the World Digital Competitiveness Ranking. The Shenzhen-Hong Kong-Guangzhou cluster ranks first in the 2025 Global Innovation Index Ranking of the World's Top 100 innovation clusters.
Our startup community has grown nearly fivefold in the past decade, producing homegrown unicorns.
This progress is no accident. It is built on Hong Kong's unique strengths. Under "one country, two systems", we enjoy unwavering national support and unparalleled global connectivity. Our robust rule of law, free-flowing capital and vibrant multicultural society make Hong Kong the perfect incubator for scientific exploration and technological breakthroughs.
To every scientist, researcher and innovator here today: Hong Kong is open for you. We provide the platform, the funding, the freedom and the connections to turn visionary ideas into reality.
We invite you to build your legacy here. To join us in shaping not just the future of Hong Kong, but the future of science for humanity.
On this note, let the dialogue begin. I look forward to the fruitful and inspirational exchanges. Thank you.
Source: AI-found images
