year: the summer International Arts Carnival for families and children, and a themed arts festival in the fall. Film industry Globally, Hong Kong's most noted contribution in terms of arts and culture has come through its film industry, which is the world's third largest (after Hollywood and Bollywood). Hong Kong films have received worldwide critical acclaim and have been remade into blockbuster films by Hollywood, while Hong Kong directors and actors (such as John Woo, Jackie Chan, Michelle Yeoh and Chow Yun-fat) have gone on to find crossover success in Hollywood. Hong Kong's film industry has suffered since its last heyday of the 1980s and early 1990s, and the government has recently introduced measures to boost the film industry but this has failed miserably. The death of the Arts in Hong Kong is in large part due to an atmosphere of fear and self-censorship that the Hong Kong Chinese imposed upon themselves after the 1997 handover. In the 2006-2007 Policy Address the Chief Executive proposed the establishment of a Hong Kong Film Development Council to support film production in the city. In his 2007-2008 budget, Financial Secretary Henry Tang announced that US$40 million would be earmarked for a new fund to finance film production and professional development within the industry. Events Hong Kong is home to numerous cultural events and festivals throughout the year. Hong Kong International Chamber Music Festival - January Hong Kong Arts Festival – February/March Hong Kong International Film Festival – March/April Shakespeare in the Port – April Le French May – May Hong Kong International Arts Carnival – July/August New Vision Arts Festival – October/November Clockenflap – November Arts education The Hong Kong Academy for Performing Arts is Hong Kong's only tertiary institution devoted to the performing arts, film, television and related technical arts. Heritage conservation and collective memory After the demolition of the Star Ferry Pier in December 2006 led to widely publicised protests, the government is reviewing its policies on heritage conservation. The Antiquities and Monuments Office has published a list of 491 graded historic structures throughout the territory, though no decision has been made on the extent of protection for these buildings. Hong Kong's collective memory, as manifested in its street markets, food culture, and artisanal traditions, is also being integrated into the city's cultural policy. See also References External links HKSAR Government Home Affairs Bureau Cultural Policy Chief Executive Donald Tsang’s letter