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THURSDAY, JANUARY 12, 1978
+THE CAPITAL COST AMOUNTS TO ABOUT $240M. GOVERNMENT FUNDS ACCOUNT FOR ABOUT $205M OF THIS AND PRIVATE FUNDS ABOUT $34.5M - A VERY LARGE SUM OF MONEY TO HAVE BEEN RAISED FROM PRIVATE SOURCES. THE GOVERNMENT, THE COMMUNITY AT LARGE, AND THIS UNIVERSITY ARE GREATLY IN THEIR DEBT FOR SO PUBLIC SPIRITED A RESPONSE TO THE NEEDS OF HIGHER EDUCATION IN HONG KONG.
+ INCLUDED IN THEM IS OF COURSE THE PAO FAMILY REPRESENTED BY MR PAO SUI-LOONG AND HIS SON DR. PAO YUE-KONG WITHOUT WHOSE AID THIS BUILDING COULD NOT HAVE BEEN BUILT AT THIS STAGE. IT WAS ORIGINALLY ENVISAGED THAT THIS WOULD BE PART OF A JOINT PROJECT COMPRISING THREE BUILDINGS BUT THE FINANCIAL RECESSION OF 1975 BROUGHT PLANS TO A HALT. THE PAO FAMILY THEN STEPPED IN AND BY MORE THAN DOUBLING THEIR ORIGINAL CONTRIBUTION ENABLED THE PLANS TO BE RE-STARTED AND THE BUILDING COMPLETED.
+THE BUILDING WILL CATER FOR BUSINESS AND PUBLIC ADMINISTRATION, AND ECONOMIC RESEARCH AND, WILL ALSO HOUSE ADMINISTRATIVE OFFICES FOR THE GRADUATE SCHOOL AND FOR THE EMBRYONIC SCHOOL OF MEDICINE. I AM SURE IT IS A SOURCE OF PARTICULAR SATISFACTION TO ALL OF US THAT THE PAO FAMILY: SHOULD HAVE ENSURED THAT THIS BUILDING CATERING FOR BUSINESS ADMINISTRATION SHOULD HAVE BEEN OPENED DURING THE VICE-CHANCELLORSHIP OF DR. LI CHOH-MING, WHOSE PERSONAL
INTEREST AND PREEMINENCE IN THIS DISCIPLINE ARE OF SUCH WIDE RENOWN.
+ IT IS ALSO MOST APPROPRIATE THAT THE TEACHING OF BUSINESS ADMINISTRATION SHOULD BE ASSOCIATED WITH THE PAO FAMILY AS I SUSPECT FEW HAVE MUCH TO TEACH THEM ABOUT THE BUSINESS ADMINISTRATION. THEIR EXTRAORDINARY CAPACITY FOR HARD WORK, CLEAR THOUGHT AND INTENSE SELF-DISCIPLINE, SHOULD INSPIRE THOSE WHO WORK HERE AND I WISH THEM SIMILAR COMMERCIAL SUCCESS AND FAMILY HAPPINESS.
+MR VICE-CHANCELLOR, MR. PAO, LADIES AND GENTLEMEN, I HAVE MUCH PLEASURE IN DECLARING OPEN THE SUI-LOONG PAO BUILDING.+
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