China’s State Press reports that Beijing plans to spend $27.7 billion to build the infrastructure for the 2008 Summer Olympic Games.
Sun Kanglin, Director of the Beijing Municipal Bureau of Sport, said the massive spending on sports facilities, roads, subways and a second airport is necessary to adequately host the 2008 Games.
Eighteen sports facilities are being built in Beijing for the Games at a cost of more than $3 billion.
Also, roads and new metro stations, a new airport, and a new runway and terminal at the existing airport, are expected to be completed before 2008.
Officials say that financing would come from a mixture of government and private sector spending.
The Xinhua news agency quoted Sun as saying, “the Municipal Government is currently working on relevant policies to encourage various sources of investments”.
