Beijing looks forward to stable economy after Olympics

Subscribe to Oneindia News

Beijing, Aug 21 (UNI) As the global economy undergoes drastic fluctuation, an expert on the Beijing economy today claimed that the Games will help the capital city to insulate itself from any such effect.

Talking to mediapersons here, executive president of Beijing Olympic Economy Research Association Chen Jian, said after the Olympic Games, Beijing's economy will shape up a development pattern featuring the sectors of high technology, finance, services and culture.

''Investment in urban infrastructure will remain intensive and the new investment is enough to continue to push economic growth and shun potential post-Games economic fluctuation,'' said Chen.

In 2001, Beijing had merely 54 kilometers of subway but it extended to nearly 200 km in July 2008 and is expected to reach 561 km in 2015. Chen said the investments in this project will continue to pour in even after the Olympics.

''Some Olympic host cities suffered economic fluctuation in the post-Games period, merely because their investment into infrastructure construction was excessive compared with the city's size. Beijing will try to avoid that situation,'' he said.

He further pointed out that from the end of 2007 to the first half of 2008, the city's real estate market entered a period of readjustment, and the period may be prolonged after the Games while the general housing prices in Beijing were rational when the city prepared for the Olympic Games.

On the other hand, huge housing demand would support the city's housing prices, he added.

UNI HSB RAR AS1530

Please Wait while comments are loading...