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Games ´well worth the money´ - experts

Source: China Daily | 08-26-2008 10:41

Special Report:   2008 Beijing Olympic Games

Beijing's huge investment in the Olympics will help cement its place as a world-class city and business center, and leave a legacy of improvements for its residents, pundits have said.

Photo taken on Aug. 22, 2008 shows the nightscape of the National Stadium, also known as the Bird's Nest, in Beijing. The Olympic Green enjoys a beautiful night view shining with colors and lights during the Beijing 2008 Olympic Games. [Xinhua]
Photo taken on Aug. 22, 2008 shows the nightscape of the 
National Stadium, also known as the Bird's Nest, in 
Beijing. The Olympic Green enjoys a beautiful night view 
shining with colors and lights during the Beijing 2008 
Olympic Games. [Xinhua]

Unlike Athens and some other previous hosts, where the Games led to a mountain of debt and many of the venues now sit unused, Beijing and the Chinese government can comfortably afford the $40 billion bill, they said.

Denis Ma, associate director of research at the Beijing office of property consultants Jones Lang LaSalle, said the main thing was that less than a quarter of the total spend was on purpose-built venues such as the Bird's Nest stadium. The bulk was invested in infrastructure.

"Many of the changes were necessary for Beijing's continued development. The Olympics just served to accelerate their implementation," Ma said.

The extension of the subway network will not only help reduce vehicle emissions, but allow for the development of new residential hubs, he said.

Jing Ulrich, chairman of China equities at J P Morgan Securities, said the investment would have long-term benefits.