Tycoon Li Ka-shing on Wednesday called for increased focus on technological innovation, stressing that it is essential for wealth creation in the society.
“In this day and age, no one has an iota of doubt that technological innovation underpins a country’s ability to create collective wealth, and that it is the key impetus to individual success,” the Hong Kong billionaire said during at event in mainland China.
“Creativity is the defining centerpiece of our time — powering us into the future. Establishing a creative paradigm is not easy; only through education and the rule of law can we build a free and fair, fun and fruitful future for all,” said Li, according to the Hong Kong Economic Journal.
The remarks came as Li attended the cornerstone laying ceremony of the Guangdong Technion Israel Institute of Technology (GTIIT) in the southern Chinese city of Shantou.
Li, who is the chairman of CK Hutchison Holdings (00001.HK), had in September 2013 donated US$130 million to help the establishment of GTIIT, a joint venture between Israel’s Technion and Shantou University.
The Guangdong provincial government and the Shantou municipal government have earmarked 900 million yuan and 41.56 hectares of land for the institute’s construction and operation.
The northern campus of the institute broke ground in October. Core construction is expected to be completed next year when the first batch of students could be admitted.
The institute will offer chemical engineering and bio-chemistry programs in the first phase. Around 200 students are likely to be taken in initially, before the campus population eventually grows to about 4,000 to 5,000.
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