Recession-hit Hong Kong will ring in the millennium frugally, with a midnight horse race, a dragon dance and a light and sound extravaganza - mostly paid for by private donors.
Happy Valley will host the celebrations, and there will be a joint live broadcast of countdown celebrations by several television stations in Asia and an arts festival.
However, Deputy Secretary for Home Affairs Stephen Ng Chin-ming admitted the celebration budget was small compared to Europe or the United States.
'Even if we had the money, we shouldn't waste it. But since we really don't have the money, we had to be practical and get companies to help out,' Mr Ng said.
'But our festivities will be meaningful and exciting. Many countries are just having beer-drinking parties on the streets.' The Government will shell out no more than $10 million for the festivities. In comparison, just the handover float parade, which was cancelled because of the rain, cost $20 million.
Most of the key millennium activities will be paid for by the private sector.
