Hong Kong explores AI film funding, as Ocean Park ride strands 40
Hong Kong is considering funding AI-generated films under its Film Development Fund. About 40 people were stranded on Ocean Park Tower when it malfunctioned. The government also plans a Cheung Chau Bun Festival exhibition hall and discussed football development with Asian Football Confederation pres
About 40 people were stranded near the top of Ocean Park Tower after the ride malfunctioned on Monday afternoon, with one visitor reported to have felt unwell, The Standard reported.
The government is exploring regional facility enhancement projects, including the construction of an exhibition hall dedicated to the Cheung Chau Bun Festival.
The government has not ruled out funding AI-generated films under the Hong Kong Film Development Fund as it reviews how emerging technologies could be incorporated into future support schemes, Secretary for Culture, Sports and Tourism Rosanna Law Shuk-pui said on Monday.
Chief Executive John Lee Ka-chiu met Asian Football Confederation president Shaikh Salman bin Ebrahim Al Khalifa on Monday to discuss the development of local football and efforts to bring more top-tier international matches to Hong Kong, according to The Standard.
New World Development said on Monday that the first residential phase of New World 188 in Shenzhen, Wellspring, has sold 70 per cent of its first batch of 300 homes. Separately, the company's Ma Sik Road residential project in Fanling, in partnership with China Merchants Shekou, is expected to be launched next year, according to Cannas Ho Ka-yan, director of sales and marketing at New World Development.
China's producer inflation accelerated to its fastest pace in nearly four and a half years while consumer inflation cooled in October, data showed on Monday, reflecting persistent cost pressures from higher oil prices despite weak domestic demand. Alibaba's chip unit T-Head is planning a Hong Kong initial public offering next year, aiming to raise about US$2 billion (HK$15.6 billion) to US$3 billion, International Financing Review reported, citing sources. Financial Secretary Paul Chan Mo-po lauded Hong Kong's pivotal role amid shifting global trade dynamics at the 2026 Accounting and Financial Reporting Council Regional Regulatory Forum, citing that multinational firms from Southeast Asia, the Middle East, and Central Asia are increasingly utilising Hong Kong to list equities or issue bonds.