Dear Colleagues,
On 1 April, approximately 330 colleagues, along with 20 students and alumni, attended this year's Townhall Meeting.
Following is a summary of the key messages discussed at the Meeting:
HKMU has been remarkably successful in student recruitment in recent years. However, following the amendments to the Post Secondary Colleges Ordinance (Cap. 320) and the intensified student recruitment by UGC-funded institutions, the higher-education sector has become more competitive. As a self-financed university, HKMU must make every effort to stay relevant and address these challenges effectively.
Over the past five years, the number of full-time students at HKMU has increased at a rate of 9.5% per year, and the number of staff has grown 8.9% per year. Maintaining the present rate of staff expansion is not sustainable. Our future will hinge upon the recruitment and retention of high-quality staff, rather than just increasing the headcount, and leveraging smart technologies, such as IT and AI-assisted systems, to enhance efficiency and productivity.
Our ability to secure competitive research funding continues to improve, with HKMU now accounting for approximately 40% of RGC funds allocated to the self-financed sector. As we expand our research endeavours, we must give priority to strategic research areas and encourage faculty to apply for external grants, especially those eligible for the Research Matching Grant Scheme. Additionally, PhD training is resource-demanding, so we should carefully consider whether PhD scholarships should be awarded preferentially to strategic areas or based solely on merit.
The purchase of several buildings last year raised the proportion of real estate in our investment portfolio, which was previously dominated by cash and equities. The aim of this change was to address our space shortage problem and achieve a better balance of financial risks and benefits, while maintaining the University's total reserves.
Hong Kong's economy will take some time to recover, and the current job market remains challenging. In response, we must step up our efforts to improve the employability of our graduates and provide advice and assistance to those wishing to pursue further studies.
Ultimately, our success will be determined by at least three critical factors:
(1) Physical resources: The quality of our campus and facilities,
(2) People: The quality of our graduates, faculty and staff, and
(3) Reputation: Our standing and recognition in Hong Kong and beyond.
Achieving success on all fronts will require the collective effort of all members of the HKMU community.
Paul LAM Kwan-sing
President
