HK's West Kowloon arts hub to run out of funds in 2025: CEO
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.”
Related articles
Who is Jacob Zuma, the former South African president disqualified from next week's election?
JOHANNESBURG (AP) — Former South African President Jacob Zuma was barred Monday from running for Par2024-05-21Upgraded farmhouses winning Jizhou more visits
Jizhou district in the city of Tianjin, North China, has become a destination for guests looking for2024-05-21Scotland's Lewis Ferguson out of Euro 2024 after injuring knee while playing for Bologna
BOLOGNA, Italy (AP) — Scotland midfielder Lewis Ferguson will miss the European Championship after i2024-05-21Lightning, rains kill 49 in Pakistan as authorities declare a state of emergency in the southwest
ISLAMABAD (AP) — Lightning and heavy rains have killed at least 49 people across Pakistan in the pas2024-05-21Siblings trying to make US water polo teams for Paris Olympics
WALNUT, Calif. (AP) — Chase Dodd started swimming when he was just a kid. Once he began playing wate2024-05-21Knockout stage on the horizon at table tennis team worlds
Teams qualifying for the knockout round have been confirmed at the ITTF World Team Table Tennis Cham2024-05-21
atest comment