Arts, Culture Facilities Get HK$20bn For Upgrades
"); jQuery("#212 h3").html("

"); });
2018-02-28 HKT 17:24
The government said on Wednesday that it will set aside HK$20 billion to upgrade the city's cultural facilities and construct new venues.
Paul Chan said in his budget speech that this will include the construction of the New Territories East Cultural Centre and the Heritage Conservation and Resource Centre.
The government will also allocate HK$500 million to the Leisure and Cultural Services Department for acquiring museum collections and holding exhibitions, while HK$40 million in extra funding will be given to the Hong Kong Arts Festival Society for commissioning creative works and arranging performances by local artists during the Arts Festival.
An additional HK$55 million will be provided to support the nine major performing arts groups as well as small and medium arts groups funded by the Hong Kong Arts Development Council.
Chan also allocated HK$300 million to strengthen the conservation of the city's Intangible Cultural Heritage. Another HK$70 million will be pumped into the Cantonese Opera Development Fund to support production and performances by local Cantonese opera troupes.
To showcase Hong Kong's art and culture, HK$50 million will be provided every year for overseas performances by local artists.
Local arts groups and artists taking part in cultural exchanges with counterparts from the Bay Area region will be given subsidies worth HK$140 million over the next five years.
Is Hong Kongs Default Life Insurance Choice A Wealth Drain?
Hong Kong is a city that takes financial security seriously, boasting one of the highest insurance penetration rates in... Read more
RedotPay Secures $107M Series B, Total Funding Hits $194M
RedotPay, a global stablecoin-based payment fintech, has closed a US$107 million Series B round, bringing its total cap... Read more
91% Of Hong Kong Merchants Lose Revenue To Payment Friction
Aspire has released its Hong Kong Ecommerce Pulse Check 2025, highlighting that while mid-sized ecommerce merchants rem... Read more
Do Kwon Faces Possible Trial In Korea After US Conviction
Do Kwon, the crypto tycoon behind the 2022 collapse of TerraUSD and Luna, caused an estimated US$40 billion in investor... Read more
Startale, SBI Holdings To Develop Japans Regulated Yen Stablecoin
Startale Group and SBI Holdings have signed a MoU to jointly develop and launch a fully regulated Japanese yen-denomina... Read more
KakaoBank Expands In Indonesia Through Superbank Partnership
KakaoBank, South Korea’s largest internet-only bank, is accelerating its global expansion through a deepened partners... Read more