Olympic Economy-A Huge Temptation

From 2001 to 2008,Beijing will invest 280 billion yuan in the Olympic Games project,of which 180 billion will go to the construction of infrastructure.Such a huge investment will be a stimulus to the economic development of Beijing and the country as a whole. According to the spokesman of the National Bureau of Statistics,during the 7 years from 2001 to 2008,the average annual GDP growth,driven by "Olympic economy",is expected to increase 0.3 to 0.4 percentage point.

Economic experts have predicted that the 2008 Olympic Games will exert an extensive and far-reaching influence on China's economic and social development and that the influence on such specific industries as sports,tourism,construction,building materials,communication and commercial services will be more direct.Olympic Economy will be a new growth factor for China's economy,which will create over 1 million job opportunities.Motiveated by the Olympic Games,China will witness a high-speed development in its economy during the first decade of the 21st century.

By hosting the Olympic Games,Beijing will earn a direct income of approximately US＄3 billion from the TV relay rights,the Olympic Partners program of the international Olympic Committee subsides from the Central Government and the Beijing Municipal Government,support from businesses and franchises,and sales of commemorative coins and stamps and admission tickets to the games.It is estimated that the indirect income to be gained by Beijing will reach US＄5.4 billion,and it is impossible to work out a correct figure of the derivative income to be brought to Beijing and the whole country.

The Beijing Olympic Games will help to improve Beijing's environment and enhance its scientific and technological levels.In the coming five years,Beijing will earmark 45 billion yuan for environmental improvement,and 30 billion yuan for the building for its information industry,laying a foundation for a"digital Beijing" that initially fertures e-government,e-business and distance education.Meanwhile,Beijing will accomplish the task of demolishing more than 9 million square meters of dilapidated houses and building new homes for the relocated resdents,making available living space of 18 square meters per capita.

The Olympic Games will greatly speed up the pace of building Beijing into a modern international metropolis.Beijing has worked out this strategic plan for its development in the new century:by 2010.Beijing will be the first city in the country in realizing initial modernization,forming a basic framework for a modern international metropolis;by 2020,it will have developed into a modern international metropolis;and by the mid-21st century,the city will have been completely modernized and become a first-class modern international metropolis in the world.