Shanghai World Expo building plans good to 'go'

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Last updated at: (Beijing Time) Monday, November 03, 2003

Shanghai World Expo building plans good to 'go'

The construction of exhibition facilities for Shanghai World Expo 2010 will start in 2005 and is expected to offer an investment opportunity for private and overseas capital, Shanghai officials say.

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The construction of exhibition facilities for Shanghai World Expo 2010 will start in 2005 and is expected to offer an investment opportunity for private and overseas capital, Shanghai officials say.

"By 2005, we will finalize the general planning for the Expo site and the infrastructure and exhibition facilities construction will then kick off," Wang Junyi, a senior official with the newly-established Bureau of Shanghai World Expo Co-ordination, said at an annual conference.

Wang emphasized construction projects for the Expo will stick to the principles of international participation.

The whole Expo site will include at least 60 independent exhibition halls designed and built by participating countries.

Jing Shuping, former chairman of the All-China Federation of Industry and Commerce, urged the Chinese Government to "encourage, not just allow, domestic private businesses to invest in Expo projects."

"Direct investment by government (for the Expo) is necessary but it's far from enough," said Jing.

"What the government should do is to also create a transparent and equal environment for private investors (in the infrastructure development for the Expo)," said Jing.

Bureau of Shanghai World Expo Co-ordination, headed by Vice-Mayor Zhou Yupeng, will take full responsibility of preparation for the gala, according to the meeting.

Under the bureau, there will be a land reserve office and an expo company, which are responsible for land approval and infrastructure construction for the expo.

"The expo company will welcome various shareholding investment from businesses from home and abroad," said Wang.

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