HONG KONG, July 26 (Xinhuanet) -- The Fok Ying Tung Foundation Tuesday donated 800 million Hong Kong dollars (102.56 million US dollars) to the Hong Kong University of Science and Technology (HKUST) to support the university's development.

This is the largest gift made to HKUST since its foundation in 1991.

Ian Fok Chun Wan, vice chairman of the Foundation, presented a check to the University at a donation ceremony held on campus Tuesday.

Thanking the Foundation for its generosity, Prof. Paul Chu, president of HKUST, said, "This gift is an endorsement of our Strategic Plan launched in June. It provides an important funding source to achieve our strategic objectives. I hope that the partnership and vision shared by HKUST and the Fok Ying Tung Foundation will encourage more philanthropists and community leaders to participate in the University's strategic development."

"HKUST has impressed me enormously with its strong commitment to promoting research excellence, nurturing talents and making contributions, locally, nationally and globally," said Henry Fok Ying Tung, chairman of the Foundation. "The University's Strategic Plan highlights the important initiatives that will extend its impact on higher education in Chinese mainland. I am confident that with this gift HKUST will also contribute further to the social and economic development of Hong Kong, the Pearl River Delta and beyond."

According to the university, this is the second gift made by the Foundation to HKUST. In 2003, the Foundation donated 30 million Hong Kong dollars (3.85 million US dollars) to the University in support of academic and research development.