Protests don’t affect Hong Kong university pocketbooks, as donations surge for three institutions in past year

University of Science and Technology donations soared to HK$741 million, while funds at Polytechnic and Baptist universities also jumped dramatically

Records also show all three publicly funded schools increased pay packs of their presidents, despite economic woes of Covid-19 pandemic

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Protests that ravaged Hong Kong campuses in 2019 sparked fears that donors might withdraw funding. Photo: Xiaomei Chen

Published: 2:00pm, 17 Dec 2020Updated: 11:25pm, 17 Dec 2020

Donations to three Hong Kong universities have skyrocketed in the past year, one by more than tenfold, despite concerns benefactors might pull out after a year of anti-government protests that led to the arrests of thousands of tertiary students.

Among the three publicly funded schools, the University of Science and Technology (HKUST) recorded the biggest surge, pulling in HK$741 million (US$96 million) – nearly 12 times its 2019 haul – while Polytechnic and Baptist universities also saw donations increase multiple times over, to more than HK$300 million each.

The figures were revealed in the universities’ latest financial records, which also showed that all three of their presidents enjoyed raises of HK$150,000 to HK$1 million last year despite the economic downturn caused by the Covid-19 pandemic.

Donations to the Hong Kong University of Science and Technology surged nearly twelvefold over the past year. Photo: Handout

The schools’ financial statements covered the 12-month period from July 2019 to this past June, when the city was reeling from the double impact of the months-long protests and the surging Covid-19 pandemic.

Hong Kong’s universities were repeatedly thrust into the spotlight during that time frame, in particular after several institutions were occupied during a November 2019 citywide strike that saw facilities damaged extensively amid clashes between radical protesters and police.

Protests don’t affect Hong Kong university pocketbooks, as donations surge for three institutions in past year

University of Science and Technology donations soared to HK$741 million, while funds at Polytechnic and Baptist universities also jumped dramatically Records also show all three publicly funded schools increased pay packs of their presidents, despite economic woes of Covid-19 pandemic

University of Science and Technology donations soared to HK$741 million, while funds at Polytechnic and Baptist universities also jumped dramatically

Records also show all three publicly funded schools increased pay packs of their presidents, despite economic woes of Covid-19 pandemic