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  • Gigi Lee

2 billion Investment Fund Suspended the Needs for Innovation and Technology Long-term Development


Dr. Wong Kam-fai, professor in the Department of Systems Engineering and Engineering Management at Chinese University of Hong Kong

Academics calling for a more substantial policy framework for a long term development as Chief Executive Leung-Chun-ying’s policy will set aside 2 billion investment fund to motivate universities for midstream and applied research.

In his policy address, Leung deemed universities focused exclusively on upstream research projects and published scientific achievements in journals are expected them to carry out midstream and applied research.

Kobe Yung, a fourth-year civil engineering student at Hong Kong University of Science and Technology (HKUST), affirmed many institutions specialize in upstream research, especially HKUST.

He considered institutions would invest more in other kinds of research because of the fund. Dr. Wong Kam-fai, professor in the Department of Systems Engineering and Engineering Management at Chinese University of Hong Kong (photo above), admitted the fund would encourage professors to work on midstream and downstream research.

“The 2 billion investment fund is incentive for midstream research. It changes academic evaluation system that applied research and basic research would achieve a balance,” he added.

Nevertheless, he emphasized the government can do more to increase the balance. “All students would gain advantages from the fund, not only engineering students, but also students from different majors get involved in innovation and technology,” Yung stressed.

The recent HKUST25Projects, which aimed to generate new and innovation ideas for research excellence, was participated by students from different schools.

From Yung’s perspective, innovation and technology can boost Hong Kong’s economy, but students should be aware of its potential firstly.

“Rome wasn’t built in a day,” Dr Wong stated. Meanwhile, Yung agreed innovation and technology is a long term investment.

Both of them considered lack of policy in how resources invested in individuals. They proposed the government should promote innovation and technology more among primary and secondary students.

Dr Wong believed innovation and technology would be a new pillar industry in Hong Kong. “Hong Kong would collapse if one of these four pillar industries is during recession,” he said.

“We can see innovation and technology is a trend among Western countries and Hong Kong should follow.”

Dr Wong and Yung urged a more extensive plan is indispensable for strengthening innovation and technology in universities and in Hong Kong.

Yung remarked procedure of operating fund is still vague, while Dr Wong anticipated to acquire more details of the fund in the 2016-17Budget.

For the first time ever, policy address has a innovation and technology session.

Reporter Gigi Lee She is currently a master candidate in Journalism at the Chinese University of Hong Kong. She graduated from the University of California, San Diego(U.S.A.) in 2014, majored in Political Science, concentrated in Comparative Politics and International Relations. She was previously English News Intern Reporter at Asia Television from 2015 to 2016, Outreach Intern at the United Nations Association (USA) in 2014 and ILA Rights Clearance Intern at the National Geographic Society (USA) in 2013.


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