Hong Kong’s 2013 Budget To Promote Creative Industries

Hong Kong’s 2013 Budget To Promote Creative Industries 

The Financial Secretary of Hong Kong SAR government, Mr John C Tsang, delivered his Budget speech on 27 February 2013.  He set aside HK\$60 billion (EUR 5.9b) to promote economic development, increase employment, invest in education, optimise human capital, invest in infrastructure, and care for people’s livelihood. The Government would also continue to foster economic integration with Mainland China to take advantage of its market development while also preserve Hong Kong's characteristics as an international city.   

Besides some pillar industries, Hong Kong's emerging industries will also receive a boost, amongst which the Creative Industries was emphatically mentioned. The site of the former Royal Hong Kong Yacht Club in Oil Street, North Point, would be converted into a visual arts exhibition and activity centre.  Additional funding of HK\$50 million (EUR 4.92m) will be made available to acquire local visual artists' outstanding artworks, and to commission works for exhibition.