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Considering the strong demand in the infrastructure construction market and the growth of related industries driven by the 2008 Olympic Games, Beijing will offer ample opportunities for the business community at home and abroad to flourish.
These businesses may directly participate in the design, construction and even operation of the Olympic venues and related facilities.
The local government has pledged that the Games will be operated in a globalized and market-oriented manner.
It will invite public tenders for the design and construction of the Olympic venues, and the purchasing of equipment and materials.
The city's development and reform commission recently revealed that it has selected 60 research projects for open bids.
The research projects will cover such matters as urban construction, social development and industrial development. Bidders will include domestic enterprises, research institutions and industrial associations, as well as international institutions.
In addition, local authorities said that the operation of the Olympic venues will be open to domestic and foreign enterprises after the Games close in 2008.
Participating in the marketing program of the Organizing Committee for the 2008 Beijing Olympic Games will also be promising for domestic and overseas businesses.
The organizing committee's marketing program will include television broadcasting, sponsorship, product provision, donation, franchised operation, issuing stamps and souvenirs, sales of tickets and a variety of cultural activities, through which enterprises may be authorized to use the Olympic logos and access to the exclusive product and service markets.
In addition to the fields directly related to the games, domestic and foreign businesses should pay attention to sectors, which will be driven up by the Olympic economy.
In the next four years, the Games will lead to a surge in investment, which is expected to bring a higher gross domestic product (GDP) growth rate to Beijing.
Experts said the city's annual GDP growth rate is estimated at 11 percent in the next few years, and the per capita GDP is predicted to reach US$6,000 in 2007.
The high GDP growth also means an increase in income for local residents, thus driving consumer demand in sectors including cultural goods, sports, transportation, telecommunications, real estate, automobiles and other consumer goods.
Also, the Games will bring a boom in service sectors including tourism, conventions and exhibitions, catering, entertainment and finance.
It is estimated that Beijing will receive about 4.6 million tourists in 2008, compared with the present figure of 3 million.
Since the local government has decided to host a "Scientific Olympics," high-tech sectors such as information technology (IT), new materials and biological pharmaceuticals will also be attractive sectors for investors.
A traditional IT powerhouse in China, Beijing will build such industries as integrated circuits, liquid crystal displays, telecommunications, computers and software into the pillars of its economy.
It is predicted that the added industrial value in the IT sector will reach 50 billion yuan (US$6 billion) in 2008.
(China Daily March 19, 2004)
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