Hong Kong’s leader has said late entertainment mogul Run Run Shaw’s vision of celebrating education and the pursuit of knowledge with his prestigious science prize is central to the city government’s own aspirations.

Speaking at the award ceremony for the prestigious Shaw Prize on Tuesday, Chief Executive John Lee Ka-chiu also paid his respects to late Nobel Prize-winning theoretical physicist Chen-ning Yang, who was one of the local award’s founding council members.

The award, dubbed the “Nobel Prize of the East”, was established by the late Shaw and has been given out annually to academics since 2004 for their outstanding contributions in three categories: astronomy, life science and medicine, and the mathematical sciences.

Each prize consists of a medal, a certificate and a cash award of US$1.2 million.

“My congratulations to each of you for your outstanding and continuing contributions to science and to civilisation – to a future bright with cooperation, progress and purpose,” Lee said.

“That, of course, speaks of the vision Sir Run Run Shaw brought to compelling life – with the help of Professor Yang and other founding members – one that celebrates education and the pursuit of knowledge through science and research.”