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US$1.8B for Beijing’s Olympic Economy

A total of 15 trillion yuan (US$1.81 billion) will be invested in Beijing's Olympic Economy in the period from 2004-2008, announced Mr. Ding Xiangyang, Director of Beijing's Municipal Commission of Development and Reform on 18th April at the Invest Beijing conference.

Held over 18th and 19th April at the Beijing Hotel, this market promotion conference was the first of its kind to be held in China's capital, and was attended by a "Who's Who" of domestic government and domestic and foreign business leaders.

Ding's speech also contained a number of details about the disbursal of the15,000B yuan, including intentions to invest:

* 22 billion yuan (US$2.67B) in the construction and operation of the Olympic stadiums and their ancillary facilities

* 280 billion yuan (US$33.8B) in infrastructure and improvement of infrastructural services in the Beijing Municipality

* 150 billion yuan (US$18.1B) in continued development of Beijing's manufacturing, high technology and new technology sectors

* 200-300 billion yuan (US$24.2-36.2B) in Beijing's modern service industry development to sustain the Chinese capital's national leadership in finance, business, logistics, convention and tourism travel

* 1 trillion yuan (US$121B) in Beijing's public services, including education, health, culture, sanitation, public security and community services, and construction in the new urban centres, small cities and towns.

The successful Invest Beijing conference is covered elsewhere in this issue of Business Beijing.