Current location:opinions >>
HK's West Kowloon arts hub to run out of funds in 2025: CEO
opinions99People 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.“Global Gateway news portal”。http://saintkittsandnevis.downmusic.org/article-98f599893.html
Related articles
Germany's foreign minister visits Kyiv as Ukraine battles to hold off a Russian offensive
opinionsKYIV, Ukraine (AP) — Germany’s foreign minister arrived in Kyiv on Tuesday in the latest public disp ...
【opinions】
Read moreAnglo American plans to break up its sprawling business as it tries to fend off takeover
opinionsLONDON (AP) — Mining giant Anglo American PLC plans to break up its sprawling worldwide business — i ...
【opinions】
Read moreHarvard students end protest as university agrees to discuss Middle East conflict
opinionsCAMBRIDGE, Mass. (AP) — Protesters against the war between Israel and Hamas were voluntarily taking ...
【opinions】
Read more
Popular articles
- Kylie Jenner displays her VERY edgy fashion sense in cleavage
- How does Cannes work? From the standing ovations to the juries, the film festival explained
- Julia Louis
- Assaults on law enforcement in the US reached a 10
- With Djokovic awaiting the winner, Murray trails Hanfmann at rain
- Argentina reports its first single
Latest articles
Kosovo prepares a new draft law on renting prison cells to Denmark after the first proposal failed
Top banker's cross
Harvard students end protest as university agrees to discuss Middle East conflict
FIFA meets with women's soccer decisions, anti
Nigella Lawson, 64, reveals she would 'never take Ozempic' as a weight
Former University of Missouri frat member pleads guilty in hazing that caused brain damage
LINKS
- Türkiye's Istanbul welcomes 1st Chinese tourist group after pandemic
- Shanghai Shenhua soars as Changchun Yatai struggles in Chinese Super League
- Rare golden monkeys thrive at Chinese world heritage site
- Rare golden monkeys thrive at Chinese world heritage site
- Son on target as South Korea beat Thailand 3
- Cardinals catcher Willson Contreras breaks left forearm when hit by J.D. Martinez's bat
- 2024 NHL draft lottery: Sharks win right to No. 1 pick for 1st time in team history
- The North Korean official whose propaganda helped build the Kim dynasty dies at 94
- Eflin allows 1 run in 7 innings as Rays beat White Sox 5
- Pillar homers twice as Sandoval and the Angels beat the Pirates 9