Financial Secretary John Tsang has promised targeted support for the cultural and creative sector, by injecting money into four different areas in the industry.
Delivering his 2015-16 Budget today, Mr Tsang said the Government will inject an additional $400 million into the CreateSmart Initiative to support different sectors and provide talented people with training programmes, as well as overseas exchanges and internships.
The Government will launch a $500 million, three-year pilot programme for Hong Kong's fashion industry. It will promote fashion designers and brands, create an incubation programme for design start-ups and provide fashion design graduates with overseas internships and study opportunities.
Mr Tsang also announced an additional $200 million for the Film Development Fund and a subsidy scheme for film productions with a budget not exceeding $10 million. The film production financing scheme's production budget ceiling will be raised from $15 million to $25 million.
He also proposes a $300 million Art Development Matching Grants Pilot Scheme, under which government grants would match private donations and sponsorship secured by eligible local arts groups.
