Sports output value in Beijing generally accounts for above 1 percent of the GDP in recent years, which is still below the standard of international sports city. Officials with the Beijing Sports Bureau said recently that with the business opportunities the Olympics brings Beijing would strive to increase the output value of its sports industry to 3 percent of the GDP by the year 2008.

Fan Zheng, director of the Sports Market Supervision Department of the Beijing Sports Bureau said at the Olympic Business Opportunity Forum that Beijing would strive to build an international sports center in the next few years. Beijing's sports output value in 2004 is estimated to be on a par with that in 2002 (the year 2003 was much affected by the SARS) and reach 12.8 billion yuan, which accounts for 1.7 percent of Beijing's GDP. It is still below the level of 3 percent in some developed countries. With the emergence of Olympic business opportunities and the support of relevant policies Beijing will strive to increase the proportion of sports output value in the GDP to 3 percent by 2008.

Fan Zheng said the main objective of developing Beijing's sports industry is to hold more sports matches and create Beijing's own match brands; emphasize the development of the sports industry and make it new economic growth sector; build first-class facilities; and create good development environment. Beijing will form a sports industry system with multiple investing bodies, which gives priority to social investment and puts emphasis on sports & recreation industry, sports matches & performance industry and sports exhibition & lottery industry.

By People's Daily Online