(Bloomberg, Hong Kong) One year after the return of Hong Kong to Hong Kong, the Hong Kong Government conceived the grand goal for this financial center in 1998: creating an art district comparable to some world's top cultural scenic spots.
Today, this West Kowloon Cultural Area, located on the land reclamation land in Victoria Harbor, is about one -tenth of the New York Central Park.There are many construction sites in the Palace Museum Cultural Museum, as well as M+and other venues of Modern Art Museum.
However, according to Bloomberg News, the Board of Directors of the Cultural District Administration warned in May this year that the existing funds are only enough to maintain it until June next year. If there is no more financial support, its museum and theater may reduce the frequency of openness.
The cultural area is trying a new fund raising method.In July, the government approved its bidding to the developer to sell residential land for residential land to build residential buildings and allow the cultural district to retain land sales income.According to previous regulations, the residential buildings in the cultural area can only be rented, and the rental income is divided by private developers.
Huang Zhaohong, a researcher at the Hong Kong Independence Think Tank Local Research Agency, was worried that the new financing plan could violate his original intention, that is, establishing a sustainable financial model that is relatively independent of private interests.
The Hong Kong Government said that policy adjustments will allow the Authority to continue to operate for about 10 years.Officials will closely supervise the financial situation of the Administration and cooperate with the Administration to solve long -term financial challenges.
