Lawmakers Want Govt To Renegotiate Disney Ties

The government came under attack from lawmakers across the political spectrum on Monday over its deal with the Walt Disney Company, after Hong Kong Disneyland reported its third consecutive year of losses.

The HK$345 million loss for the last financial year came despite an increase in visitor numbers and revenue.

Commerce and Economic Development Secretary Edward Yau acknowledged in Legco that the theme park's latest loss was "quite big", and said there were elements of the financial results that were unsatisfactory.

But he said the park is not just a tourist attraction but an investment, and the government also considers its overall contribution to the city's tourism industry and job creation.

He said the Hong Kong-Zhuhai-Macau Bridge and the Express Rail Link projects will help Disneyland when they open later this year.

But lawmakers on the Economic Development panel were unhappy with the losses.

Roundtable lawmaker Michael Tien asked if the royalties and management fees that Disney collects could be used to offset the park's losses.

The Civic Party's Dennis Kwok said questions about the agreement were raised the last time the government and Disney sought funds to expand the park. He told the company that questions remain about whether or not the park does Hong Kong any good.

Meanwhile, Hong Kong Disneyland's managing director, Samuel Lau, said the park already contributes a lot to the city's creative industries, and has donated more than a 100,000 tickets to local NGOs so local children and families can visit the park.