(Budget 2026) $1.2b boost for sports, push to cement arts trading hub status

The government will inject HK$1.2 billion into the sports portion of the Arts and Sport Development Fund, alongside new measures to strengthen Hong Kong’s position as a global hub for premium art trading, said Financial Secretary Paul Chan Mo-po.

Delivering his annual Budget Wednesday, Chan said the funding will enhance training for team sports athletes and raise the professional standards of coaches, promoting both grassroots and elite-level development.

“We will inject $1.2 billion into the sports portion of the Arts and Sport Development Fund to further promote sports development, including strengthening training for team sports athletes and improving the professional standards of coaches,” Chan said.

He added that the government will continue to promote Hong Kong as a center for major international sports events and develop sports as an industry through the “M” Mark System.

“We will continue working with Kai Tak Sports Park Limited to proactively attract more major international sports events and activities,” Chan said, noting that the aim is to support and explore more diverse and higher-level sports competitions in the city.

On cultural and creative industries, Chan said the government is actively developing Hong Kong into a global trading hub for high-end art. The administration is expected to shortly finalize collaboration arrangements with Art Basel for the coming five years.

A study focusing on strengthening financing support and talent development in the art trading sector is also underway and is expected to be completed within the year.