Current location:Worldly Whispers news portal > world
HK's West Kowloon arts hub to run out of funds in 2025: CEO
Worldly Whispers news portal2024-05-07 23:45:23【world】5People 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.”
Address of this article:http://india.esherfc.com/content-87e499905.html
Very good!(3)
Related articles
- Macron sets Ukraine war as top priority as China's Xi Jinping arrives in France
- Josef Newgarden’s win in IndyCar’s season
- USDA updates rules for school meals that limit added sugars for the first time
- With lawsuits in rearview mirror, Disney World government gets back to being boring
- Lando Norris' model girlfriend keeps quiet over his Miami Grand Prix F1 win... as ex
- Ohio lawmakers negotiate to assure Biden makes the state's fall ballot
- Queen Letizia of Spain shines in a smart tweed dress as she joins King Felipe in Madrid
- With lawsuits in rearview mirror, Disney World government gets back to being boring
- Police break up pro
- REBECCA ENGLISH: Portrait of cricket
Popular articles
Recommended
Biden speaks with Netanyahu as Israelis appear closer to major Rafah offensive
How Republican
The family of imprisoned Belarusian opposition figure hasn't heard from her for over 400 days
More than 1 in 4 US adults over age 50 say they expect to never retire, an AARP study finds
Rihanna shows off her bold pink hair as she supports baby daddy A$AP Rocky at Puma pop
Durek Verrett labels Princess Martha Louise of Norway his 'sun and moon'
Trump factor loomed large as GOP leaders pushed through Ukraine aid
Is Roblox safe for kids? Father
Links
- NASA finds new mutant bacteria in SPACE
- Unassuming New Jersey home hits the market for $400,000
- Mississippi lawmakers move toward restoring voting rights to 32 felons
- Bill Hader and Ali Wong can't stop giggling as the comedians leave loved
- Unai Emery agrees Aston Villa contract extension until 2027
- Taylor Swift pops a pill to forget the pain she's suffered at the hands of bad
- Taylor Swift pops a pill to forget the pain she's suffered at the hands of bad
- No Giannis? No Leonard? No problem just yet for the Bucks and Clippers in the postseason
- Milwaukee man charged in dismemberment death pleads not guilty
- EPHRAIM HARDCASTLE: What next for Huw Edwards after he finally confirms he is leaving the BBC?