It’s not everyday that you get to hear about a popular Chinese musician spending big bucks on a music school in Singapore.
The Singapore Raffles Music College’s new $2.5-million campus at Alexandra Road, which launched on Tuesday (28 November), was made possible through financial backing partly provided by Chinese musician Hu Haiquan.
In case you don’t know who Hu is, the 42-year-old is one-half of soft rock duet Yu Quan. Founded in 1998, the duo have sold over 7 million records since being signed to Taiwanese music label Rock Records.
Hu is backing the Singapore Raffles Music College (SRMC) together with investment holding company China First Capital Group. “Traditionally in Singapore, music and dance has been viewed more as a hobby and less so as a viable career option,” Hu said in a press release from SRMC on Tuesday.
“With Singapore actively promoting the performing arts, and the recent success of talent imports into other music markets, it is about time we recognise that in today’s economic climate, the arts can serve as a viable career path,” the musician said.
Originally from Shenyang, China, singer-turned-investor Hu has provided financial support for about 50 start-ups through the Haiquan Fund since 2013. According to a report by CNBC, these include entertainment company Beijing Wishart Culture Media. Hu is not the only Chinese celebrity who has turned to financial investments.
Actor Ren Quan, Angelababy’s husband Huang Xiaoming, and actress Li Bingbing launched venture capital firm Star VC in 2014, with business partners including actress Zhang Ziyi.
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