HKUST Annual Report 2016-17

5 As the knowledge society and information age rise to ever greater prominence in people’s lives, the growing role that higher education institutions have to play in social and economic development in our fast-paced and rapidly evolving times is now being recognized at home and overseas, especially a university with a focus on science and technology, such as HKUST. At the same time, the higher education environment is becoming increasingly competitive regionally and globally in the quest for world-class academics and students, and the provision of leading education, research, and knowledge transfer opportunities. How a university shapes its response to and engagement with such external and sectoral developments is key to determining its ability to shine or slip into the shadows. With its vision of becoming a leading university with significant international impact and strong local commitment, HKUST is keenly aware it cannot sit still. The University must proactively seek to build on the remarkable foundations laid down in its first 25 years to optimize the opportunities, solve the challenges, and continue to play a pioneering role in today’s academic and wider world. These goals were clearly illustrated with the launch of its perceptive five-year Strategic Plan 2020 in 2016-17, which guides HKUST’s direction in the short and medium term while creating the platform for the University to extend its excellence and ascend further over the long term. Numerous moves took place during the year in line with the Strategic Plan’s overall goal to position HKUST to meet the needs of society as well as set the trends in its fundamental roles of educator and knowledge discoverer. They encompassed, among others, the strengthening of education and research programs in sustainability and public policy to drive forward HKUST’s contribution in these key areas; the setting up of the Council’s Knowledge Transfer Committee and the University’s Knowledge Transfer Advisory Group to enhance innovation, entrepreneurship and external engagement; and the construction of new buildings and facilities to provide an inspirational campus to work, study and live. Along with strategic direction, the deepening interactions of universities and society and the increasing complexity entailed in managing higher education institutions make it essential that HKUST’s management structure, efficiency, and oversight keep up with the unfolding requirements of a front- running 2lst-century university. With reference to the recommendations of the University Grants Committee (UGC)’s “Governance in UGC-funded Higher Education Institutions in Hong Kong” report (“Newby Report”), the Council continued to promote its governance framework through the efforts of the Task Force to review Council effectiveness. Such undertakings included reviews of the Terms of Reference as well as the scope of responsibilities of a number of Council Committees. In addition, I was delighted that the Council was able to shed greater light on its Members’ duties among the HKUST community through a forum on governance and discussion with staff, students, and alumni. Both Strategic Plan and governance endeavors in their different ways offer significant impetus for capacity building and highlight the commitment to excellence and determination to achieve that lies at the core of HKUST. They build the framework that puts the University on track for that additional step up to the next level of global institutional achievement and recognition. They serve as indication that future potential at HKUST embraces an inclusive and inspiring campus and community dynamic that can power ahead advancement in Hong Kong and further afield. It is an exciting prospect given the international recognition and regard in which HKUST is already held. This was once again shown by the University’s continuing presence in the upper reaches of a host of rankings, including No.2 in the QS World’s Top 50 Universities Under 50 for the fourth consecutive year in 2017, No.4 in the QS Asian University Rankings 2016, No.13 in the Global University Employability Ranking, and No.1 for the seventh time in the Financial Times ’ Executive MBA 2016 global table for the joint program run with Kellogg School of Management at Northwestern University. It was also clear in the enthusiastic participation of top international academics, community leaders, and alumni located around the world in HKUST’s 25th Anniversary events, which concluded during the year. I warmly thank my fellow Council Members, the Senior Administration and other HKUST stakeholders, including the Hong Kong SAR Government, donors, alumni, and students, for their contribution over the past 12 months. With the powerful distillation of the University’s characteristic drive and far-sightedness in the new Strategic Plan, enhancement of the governance process, this institution’s established global renown, and the tremendous dedication of all its members, I look forward with optimism and anticipation to HKUST’s on-going outstanding contribution in academia and far beyond. Chairman, University Council MR ANDREW LIAO CHEUNG-SING , GBS, SC, JP