Hong Kong Launches HK$60 Million Fund to Revive Cultural Hub Status
A HK$60 million fund has been established by the Hong Kong government to support large-scale arts events, aiming to restore the city's position as an international cultural hub. Adrian Cheng, an art collector and CEO of New World Development, will chair the Mega Arts and Cultural Events Committee. Events like Art Basel can apply for grants up to HK$15 million. Hong Kong has faced challenges from mainland China's censorship and COVID-19 restrictions, while competing with Singapore and Seoul as cultural gateways. Cheng's K11 Foundation runs arts spaces in his shopping malls, and he chairs the M+ Gala Board, fundraising for the museum and serving on international committees.
Key facts
- Hong Kong government created a HK$60 million funding pot for arts events
- Adrian Cheng chairs the Mega Arts and Cultural Events Committee
- Grants of up to HK$15 million are available for events like Art Basel
- Hong Kong aims to reestablish itself as an international cultural hub
- The city faces competition from Singapore and Seoul
- Hong Kong has been impacted by mainland China censorship and COVID-19 restrictions
- Adrian Cheng is CEO of New World Development and runs the K11 Foundation
- Cheng chairs the M+ Gala Board and sits on international museum committees
Entities
Artists
- Adrian Cheng
Institutions
- Hong Kong government
- Mega Arts and Cultural Events Committee
- New World Development
- South Morning China Post
- Art Basel
- K11 Foundation
- M+
- M+ Gala Board
Locations
- Hong Kong
- China
- Singapore
- Seoul
- South Korea