Ding Xiangyang, Director of Beijing Municipal Commission of Development and Reform, said at a market promotion conference on Olympic economy in Beijing “according to the forecasting, the overall investment demands in the near future will be over 15,000 billion RMB” ( about $2 billion U.S.).
According to Ding major investments are needed for the building and operations of the Olympic stadiums and gymnasiums and their affiliated facilities (about 22 billion Yuan RMB); construction of the municipal infrastructure and the improvement of service (about 280 billion Yuan RMB); the development of modern manufacturing industry, (about 150 billion Yuan RMB), and the development of the following categories – finance, commerce, logistics, meetings and exhibitions, tourism, etc., (about 200-300 billion Yuan RMB).
Included are the public service fields such as education, culture, medication, sanitation, community service, public security, the new urban sectors and the construction, and the construction and real estate development of small cities and towns (about 1,000 billion Yuan RMB).
At Monday’s conference there were 387 projects looking for cooperation with a total amount of investment more than 134 billion Yuan RMB.
There were participants from the United States, France, Germany, Australia, Japan, South Korea and Singapore, and 50 companies from among the top 500 companies.
Meanwhile, Yu Changjiang, director of Beijing’s tourism administration, said that Beijing expects to host more than 4.4 million visitors from overseas in 2008 because of the Games.
The number of overseas tourists visiting Beijing was expected to increase by seven to eight per cent annually in the three years before 2008 and by 13 per cent in 2008.
