Beijing expects no economic downturn after Olympics
Source: Xinhua Date: 2008-08-05
The economy of Beijing would not experience a big fluctuation or slump after the Olympics, a local official told reporters here on Saturday.
The expectation of no post-Olympics economic trough in Beijing was a consensus reached among economists, businesses and government officials, according to Lu Yingchuan, deputy director of the Beijing Municipal Development and Reform Commission.
"The city is developing, and its economic growth is a result of the city's industrial restructuring and growing demands from consumers," Lu said at a press conference at the 2008 Beijing International Media Center.
"Hosting of the Olympic Games has been a boost to the economy, but in the end the economic boom is decided by the city's stage of development."
Lu said the economy of cities with people's per capita annual income between 7,000 U.S. dollars to 10,000 U.S. dollars had always been robust in history, and Beijing is just at such a stage.
There has been systematic arrangement for the city's construction and development before and after the Games, such as stated in the 15-year planning drafted in 2005 and the city's five-year plan (2006-2010), Lu said.
He said many construction projects would be started after the Olympics along with the increasing population and economic development.
One example is the building of more subway lines, he added.
Beijing is expected to have 19 subway lines at the end of 2015, Huang Yan, director of the Municipal Commission of Urban Planning, said in February. The city currently has eight subway lines in operation.
Many other new projects, such as those covering areas of energy, water supplies and environmental protection, are also planned, Lu said.
He said a great number of new projects or measures would be initiated shortly after the Olympics, without giving further details.
