(File photo: Xinhua)

HONG KONG, Jan. 7 (Xinhua) -- Hong Kong will hold a four-day carnival to celebrate the upcoming Chinese Year of the Rat, replacing the annual Chinese New Year Night Parade, said Hong Kong Tourism Board (HKTB) on Tuesday.

The carnival with a cost of 42 million Hong Kong dollars ($5.4 million) will run from Jan. 25, the first day of the Chinese New Year, to Jan. 28 at the Art Park of the West Kowloon Cultural District.

Hong Kong had held annual night parades on the first day of the Chinese New Year in previous years. "We want to provide a new format for celebration as this year marks the 25th edition of our Chinese New Year event," said Y.K.Pang, chairman of HKTB.

Pang encouraged visitors to participate in the carnival and share it with their families and friends overseas. "We want to deliver a message via the carnival that Hong Kong remains an open and welcoming travel destination," Pang said.

The tourism board hoped to attract around 150,000 visitors to the carnival.

"We'll closely monitor the carnival, and security checks will be arranged if needed," said Mason Hung, general manager of Event & Product Development of the tourism board.