A total of 200 billion U.S. dollars investment in the next five years will be associated with Beijing Olympic Games, it was announced by the Beijing Municipal Government here on Sunday at the market promotion conference on Olympic economy.

Ding Xiangyang, Director of Beijing Municipal Commission of Development and Reform (BMCDR) said: "According to the forecasting, the overall investment demands of our city in the near future will be over 1500 billion Yuan Renminbi (estimated $US 200 billion)."

He said the major investment fields include as follows:

The building and operating of the Olympics stadiums and gymnasiums, and their affiliated facilities, the investment demands will be about 22 billion RMB.

The building of the municipal infrastructures and the improvement of the service ability, the investment demands will be about 280 billion Yuan RMB.

The development of modern manufacturing industry, high and new technology industry, the investment demands will be about 150 billion Yuan RMB.

The development of modern service industry such as finance, commerce, logistics, meetings and exhibitions, tourism, etc. the investment demands will be about 200-300 billion Yuan RMB.

Also include are the public service fields, such as education, culture, medication, sanitation, community service, public security, the new urban sectors and the construction and real estate development of small cities and towns. The demands is about1,000 billion Yuan RMB.

He revealed that for the consumption market of the city, the whole amount of the retail sales of the social consumption goods are expected be over 1500 billion Yuan RMB,food and clothes (600 billion), houses sales over 17 million square meters.

At today's conference, there are 387 projects seeking for cooperation, whose total amount of investment is above 134 billions RMB.

The project categories involve urban infrastructure, modern manufacturing, modern agriculture, culture, education, sports and health, commerce, trade and tourism, energy conservation and environmental protection, hi-tech fields.

"The project cooperation methods vary, mainly include PPP, joint-venture, cooperation, lease," Ding said.

Attending the conference are participants from the United State, France, Germany, Australia, Japan, South Korea and Singpore,including over 50 companies among the Top 500 companies such as Bayer, GE, Dell, Boeing, Kodak, Daewoo, Siemens, Philips, Samsung and Nestle.

More than 300 representatives from domestic enterprises including the International Olympic Committee's Top partnership Lenovo Group also attended the meeting.

Beijing's mayor Wang Qishan said at the conference: "since three years ago when we gained the hosting right of the 2008 Olympic Games, we have been planning and working hard to realize the strategic concept of New Beijing, Great Olympics, and the promise to hold the most excellent Olympic Games ever in history.

"Our efforts have turned into many important achievements. Starting from today, more and more great achievements will be witnessed by the world."

The conference will be closed on Monday after project promotion, tender information on projects and signing of agreements.

Source: Xinhua