Construction and service projects related to the 2008 Beijing Olympic Games will provide as much as 136 billion yuan (US$16.4 billion) in business opportunities for domestic and foreign investors. 

 

The Beijing Municipal Planning and Reform Commission said Thursday that 376 projects involving infrastructure construction and renovation, Olympic gyms and stadiums, high-technology industrialization, education and culture, modern manufacturing, tourism and environmental protection will be presented at the Invest Beijing -- Market Promotion Conference on Olympic Economy.

 

The conference is to be held April 18 to 19 in the capital city.

 

Some 22 key projects involving 55 billion yuan (US$6.6 billion) have already been prepared, said Ding Xiangyang, the commission's director.

 

Among the 22 key projects, the largest is the planned subway line construction, including the No. 4, No. 5, No. 9 lines, and the first phase of No. 10 line, with total construction reaching 103.5 kilometers.

 

An investment company has been set up to collaborate with private investors on project organization and operations.

 

"The private investors may be the decision makers in the joint venture and earn profits during the contract period," said Ding.

 

Solicitation of bids for a 500-bed general hospital, with the funds needed for buildings, infrastructure facilities and equipment estimated at 854.7 million yuan (US$103.0 million), is also to begin at the conference.

 

"It is the first time for the government to introduce private funding into the hospital sector," Ding said.

 

The change is the result of medical system reform and huge demand for medical services during the 2008 Olympic Games.

 

Beijing Vice Mayor Zhang Mao says that tenders for the projects will be carried out on an open and transparent basis.

 

"Two sponsors, Invest Beijing International and Beijing Engineering Consulting Corporation, will conduct the promotion and project bidding in line with market principles," said Zhang.

 

A number of domestic and foreign business delegations, enterprises and experts have registered to take part in the conference, and senior managers and representatives from some Fortune 500 firms, including GE, Dell, Boeing, Nortel Networks, Wal-Mart and Kodak will attend.

 

(China Daily April 2, 2004)