162. In recent years, the number of people participating in major sports events and community sports activities is rising, and Hong Kong's athletes have achieved remarkable results in various sports competitions. The Government will continue to allocate resources to promote sports in the community, support elite sports and develop Hong Kong into a centre for major international sports events.
163. I will inject $1 billion into the sports portion of the Arts and Sport Development Fund to support sports organisations in the training of athletes and hosting competitions. I will also allocate $100 million for the launch of a five-year District Sports Programmes Funding Scheme to encourage wider community participation in sports.
164. On top of the $1 billion injection into the Elite Athletes Development Fund announced in January last year, I have decided to inject another $5 billion, bringing the total to $6 billion, into the Fund to provide greater support for elite athletes.
165. I will allocate $500 million for a new Major Sports Events Matching Grant Scheme to encourage the business sector to sponsor large-scale sports events, thereby providing our athletes with more opportunities to compete in high-level competitions on home ground.
166. This year, the LCSD will conduct a comprehensive review of the Sports Subvention Scheme. We will make reference to the review findings and provide the necessary resources for the Scheme. We will also conduct a technical feasibility study on the redevelopment of the Olympic House to provide office and activity space for the Sports Federation & Olympic Committee of Hong Kong, China and "national sports associations".