HONG KONG -- The Hong Kong government proposed on Monday to inject about $1.4 billion into a struggling city-owned theme park in hopes of averting a debt default amid continuing anti-government protests.
Though often held up as a free market exemplar, the Hong Kong government is deeply involved in the tourism industry, fully owning the Ocean Park theme park and co-owning Hong Kong Disneyland with Walt Disney Co. Both parks were losing money even before the protest movement began last June but have sunk deeper into the red with monthly tourist arrivals falling as much as 56%.
