The publisher of the magazine opened the topic: Government failure of the event fund. As for whether the fund has been awarded or received privately, reporters have yet to verify it. There is no information at all, so we can only make economic analysis.

The fund is called the "Cultural and Arts Events Fund". As the name suggests, culture, art (arts), etc. have no economic benefits to speak of. Of course, relying on the private market alone will not be sustainable. Without government funding, such activities will naturally be rare. However, such activities have their nature as public goods. Once a city loses literature and art, not only will the tourism industry be damaged, but the general public’s cultural and artistic leisure options will also be reduced. As a result, the overall economic utility will also decline.