Tourists at Hong Kong Disneyland, March 29, 2013. (Photo/Xinhua)
The Finance Committee of Hong Kong's Legislative Council on Friday approved a request from the Hong Kong Special Administrative Region (SAR) government to increase its share of ownership in Hong Kong Disneyland.
A total of HK$1.7 billion (US$219 million) will be used to build a new hotel at the park on Lantau.
Thirty-nine lawmakers supported the proposal while eight voted against it.
The funding request for Hong Kong Disneyland is the first out of 44 items on the agenda of the Finance Committee, which faces a backlog of items due to filibustering tactics by some lawmakers.
The Finance Committee meeting is scheduled to continue on Saturday.
Jiang Jianqing is the chairman of Industrial and Commercial Bank of China (ICBC). His research interests include theoretical and practical bank innovation, and corporation theory of industrial and ...