Home>News Center>Sports
         
 

Beijing organizer sees 2008 Games breaking even
(AP)
Updated: 2006-03-07 08:53

BEIJING - Organizers aren't counting on the Beijing Olympics to turn a big profit. "My sense is that the games will break even, but we're unlikely to make a lot of money," Tu Mingde, the Chinese Olympic Committee vice president, told The Associated Press on Sunday.

"It's like having people over to dinner. The food may be not so expensive, but you need to select the right furniture, carpets, and so on."

Tu, who is attending the congress' annual legislative session, said organizers are avoiding waste but will spend what is necessary for a first-rate Olympics.

He added that the 2008 Games won't compete for funding with the government's goal of aiding the rural poor. Earlier, a member of the legislature, the National People's Congress, urged that Olympic spending take into account the country's widespread rural poverty.

"We cannot afford an extravagant event," delegate Zhang Guiyi was quoted as saying on Friday.

In a report Sunday to the congress, Premier Wen Jiabao said Beijing will spend an extra $5.2 billion on schools, hospitals, crop subsidies and other programs to help the poor countryside, home to 800 million people, and others left behind by China's economic boom.

China is also spending lavishly on Olympic preparations, although Tu pointed out that much is going toward new subways and other infrastructure improvements that will benefit Beijing long after the games.

About $2.4 billion is going toward construction of Olympic venues alone and another $35 billion to $40 billion on urban renewal. Projects range from new power, water and sewage treatment plants to the world's largest airport terminal.

Tu said sentiments such as those Zhang expressed showed Olympic organizers needed to do a better job of conveying the message that sponsors will pick up much of the tab for the games.

"People have the impression that the government will provide all the money, and that's just not true," he said.
Page: 12



Selected Reuters Sports Pictures on March 3
Tennis player Anna Kournikova at fashion show
Ronaldo's girlfriend Raica Oliveira at fashion show
 
  Today's Top News     Top Sports News
 

Five-year plan addresses pressing problems

 

   
 

Farmers want a 'land-leasing policy'

 

   
 

Co-ordination vital to curb human pandemic

 

   
 

China to fill strategic oil reserve in '06

 

   
 

Concern over hospital funding

 

   
 

Prosecutor: Moussaoui's lies led to 9/11

 

   
  Beijing organizer sees 2008 Games breaking even
   
  Chelsea needs two-goal win Vs. Barcelona
   
  Federer will relish rivalry with Nadal
   
  Iverson, Gasol awarded NBA weekly honors
   
  Schumacher can make 2006 season stand out
   
  Woods building momentum toward masters
   
 
  Go to Another Section  
 
 
  Story Tools  
   
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement