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Xu Bing named cultural ambassador

Secretary for Culture, Sports & Tourism Kevin Yeung has appointed Chinese contemporary artist Xu Bing as Ambassador for Cultural Promotion for about five years starting today.    As Ambassador for Cultural Promotion, Mr Xu will initiate a series of large-scale art projects in Hong Kong and nurture young talent to promote cultural development.   The Culture, Sports & Tourism Bureau said the appointment aims to extend the Ambassador for Cultural Promotion scheme to other fields of arts, after Chinese composer, musician and conductor Tan Dun became Hong Kong’s first Ambassador for Cultural Promotion last year.   Speaking at the appointment ceremony today, Mr Yeung said Mr Xu is widely recognised as one of the most innovative and influential Chinese contemporary artists.   The culture chief added that the Museum of Art collected one of Mr Xu's most well-known works A Book from the Sky, which contains both traditional and contemporary elements, just like Hong Kong

Composite interest rate drops

The composite interest rate fell to 0.22% at the end of March from February’s 0.23%, the Monetary Authority announced today.   It said the drop reflected a decrease in the weighted funding cost for deposits during the month.   The composite interest rate is a measure of the average cost of funds of banks.
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