Current location:business >>
HK's West Kowloon arts hub to run out of funds in 2025: CEO
business67151People have gathered around
IntroductionHong Kong’s West Kowloon Cultural District will use up its financial reserves next year, the h ...
Hong Kong’s West Kowloon Cultural District will use up its financial reserves next year, the head of the authority overseeing the arts hub has said as she urged the government to approve a plan designed to secure its financial sustainability.
Betty Fung, CEO of the West Kowloon Cultural District Authority (WKCDA), told local media outlets on Wednesday that the arts hub’s HK$21.6 billion funding endowed by the city’s legislature in 2008 will run out next year.
Fung said that the arts hub had recorded over 4 million visits in the 2022/23 year, in which the hub’s M+ Museum had drawn 2.7 million visitors. Meanwhile, the Hong Kong Palace Museum attracted 1.25 million guests, she said, adding that she was confident that the increase in special exhibitions would draw more visits this year.
The WKCDA proposed making “good use of its land resources” in a bid to shore up its finances last August. Details of the proposal – which has not been made public – are not known.
Fung said that the government had yet to reply to the proposal as authorities had been consulting with experts on the arts hub’s financial situation. But she urged the government to expedite the plan’s approval, citing the time required for setting up major art exhibitions in collaboration with international arts institutions.
She said that such exhibitions would normally require two to three years to prepare, and the uncertainty of the arts hub’s finances would hinder arrangements and contracts with other museums.
Fung added that the worst-case scenario would be to rely on bank loans to sustain the operations of the arts hub, which she described as “unheard of.”
Secretary for Cultures, Sports and Tourism Kevin Yeung on Wednesday said that authorities would continue to work with the WKCDA to address its financial situation.
“The government invested a great amount of recourses when the West Kowloon Cultural District was established, as well as offered assistance in its land [acquisition] and construction,” he told reporters in Cantonese. “We will continue to work with them to solve the problems.”
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Culture Chronicles news portal”。http://djibouti.carpetcleaningepping.com/article-54c599941.html
Related articles
2 men are charged with cutting down famous 150
businessLONDON (AP) — Two men have been charged with cutting down the popular 150-year-old Sycamore Gap tree ...
【business】
Read moreChina to export commuter trains to Indonesia for first time
business(ECNS) -- China's leading train manufacturer CRRC Sifang announced to export commuter electronic tra ...
【business】
Read moreMuseum visits surge in popularity this summer
businessA cute pottery is seen at the Datong Museum in Shanxi province, Aug 20, 2023. [Photo/VCG]During the ...
【business】
Read more
Popular articles
- Amazon reports strong 1Q results driven by its cloud
- International experts expect the Chinese economy to flourish with more technological breakthroughs
- China to join Cobra Gold 2024 military exercise in Thailand
- Pictures with character
- South African boxer Dingaan Thobela, 'The Rose of Soweto,' dies aged 57
- Solving problems together
Latest articles
LINKS
- Household Cavalry horses injured after going on blind
- MacKinnon, Nichushkin lead 5
- BORIS JOHNSON: Come on London! Time to kick out high
- Elliss, Jenkins, McCaffrey join Harrison and Alt in following their fathers into the NFL
- Police release new image of 74
- Zendaya's racy Challengers three
- Draisaitl, Hyman lead Oilers to 6
- Eddie Murphy's The Pickup set crash saw two stunt vehicles collide and roll off the road
- Woman, 19, goes to meet man, 29, after striking up romance online
- How major US stock indexes fared Friday, 4/26/2024