Budget Speech

Sports Development

171.      The Government has always attached great importance to sports development. We have taken an active role in promoting “sport for all”, developing elite sports and positioning Hong Kong as a leading location for international sports events. The redevelopment of the Hong Kong Sports Institute (the Institute) at a cost of about $1.8 billion is proceeding according to schedule. To tie in with the upgrading of its facilities, I propose to set up a $7 billion “Elite Athletes Development Fund”. The investment return of the Fund will replace the current mode of providing subvention to the Institute. This will help make the Institute a world-class training centre, provide more comprehensive support to elite athletes, and strengthen our efforts to identify and train young athletes with potential.

172.      Last July, we also injected $1.5 billion into the sports portion of the ASDF. Its investment return is used to support various sports, in particular team sports, and to organise more community sports programmes to promote greater public participation in sport. We will continue to build new district-based recreational and sports facilities and improve existing ones in the light of district demand. We will also press ahead with the planning of the multi-purpose stadium complex at Kai Tak.

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