Shanghai will put every effort into its bid to host the 2010 World Expo, which if successful will increase China's commercial exchanges with other countries and bring many new business opportunities, a senior official said Thursday in Shanghai. If Shanghai wins the bid, it will be the first time for a developing nation to host the fair in the 150-year history of the event.
Chen Liangyu, acting mayor of Shanghai and director of the bidding committee, said that east China's financial sector is confident in its ability to host the fair by using the economic and cultural dynamism the city is known for and with the support of the central government.
The Fair is expected to attract over 50 million visitors and will cost US$ 2.5 billion to set up. In addition, more investment would be needed for better local financial services, tourism, management and legal services.
Chen said that Shanghai was chosen to make the bid by the Chinese Central Government because of the city's fast development over the past two decades as well as its valuable experience in organizing large international activities.
Russia, the Republic of Korea, Mexico, Poland and Argentina have also filed applications to the International Expositions Bureau (BIE) to be included in the bid.
An BIE team will visit Shanghai next month. Election of the host city will be held at the end of the year.
(People's Daily February 8, 2002)
