Professor Ko, RGC and panel members, ladies and gentlemen,

This is the first time that I address such a distinguished gathering of eminent local and overseas researchers in my capacity as Chairman of the UGC, or indeed in any other capacity. I must confess, as a lay person, to being a bit overawed by the presence of so much brain-power.

However, since joining the UGC last year and after having been appointed Chairman of the UGC since February this year, I have had the opportunity to visit the institutions and meet with many local and overseas academics. I have learned that you can become deeply passionate about research because good research not only extends the human mind and the frontiers of knowledge, it can also lead to new discoveries that may directly benefit our personal well-being, improve our economy and make our society a better place for all to live in. No wonder there is never any satisfaction with the amount of research dollars!

I have been very much impressed by the work of the RGC which has, in its eight short years of existence, helped to build up a vibrant research culture in Hong Kong's universities. Just to quote one statistic, I understand that Hong Kong has in recent years had one of the fastest research publication growth rates in the world. Successive members of the RGC's panels and of the Council have worked tirelessly to assess proposals and review increasing numbers of research projects, and also to consider and give advice on new programmes and policies. All these have directly contributed to the now much increased level and quality of research activity in Hong Kong. On behalf of the UGC and the whole Hong Kong community, I would like to thank them and you all for your efforts.

Here, however, I must pay particular tribute to Prof Ping Ko, the Chairman of the RGC for the past 5 years. As you know, Ping will be retiring from the chairmanship at the end of this month. It is very clear to me that he has made tremendous contributions to the RGC. He has been with the RGC from day one, since the Council was established in 1991. He served first as Chairman of the Physical Sciences and Engineering Panel from 1991 to 1993, until he took over the mantle from Prof Sir David Todd, the RGC's founding Chairman, in January 1994. He has since led the RGC from strength to strength.

Ping's accomplishments really need no further introduction from me. However, apart from the good progress achieved by the RGC in the past 5 years under his leadership, I would particularly like to commend Ping's far-sightedness in pioneering the establishment of the Co-operative Research Centres Scheme under the RGC. This scheme is aimed at encouraging collaboration between university research and industry. That was back in 1993 when no banker (myself included) or businessman would put money into high technology development in Hong Kong. Today, of course, the Special Administrative Region Government sees the development of high technology as one of its key strategies to support economic recovery and the long term development of Hong Kong. Credit must go to Ping for having the vision to encourage the development of this small but nonetheless important university and industry co-operation scheme under the RGC, which preceded the establishment of other more major industry support schemes.

Finally, I must congratulate Ping on his excellent sense of timing as well. He has chosen to leave the RGC at a time when his experience and expertise in technology transfer will be most in demand. Although we will all be sad to see him go, I am sure you will join me in wishing him all the best for the future, especially in pursuing his love of technology transfers. I am sure we will see Ping's expertise being put to good use in the SAR's overall efforts to encourage the development of innovation and technology.

I would now like to ask you all to join me in proposing a toast to Professor Ping Ko.