Nov. 19, 2007 (China Knowledge) – The 2008 Beijing Olympic is expected to generate a net profit of US$30 million, according to an Official from the Beijing Olympic Organizing Committee (BOOC). During a recent interview with China Business News, Yu Zaiqing, the vice executive chairman of BOOC, released the financing of the 2008 Olympic Games. The 2008 Beijing Olympic is expected to consume approximately US$2.4 billion. Instead of seeking for financial support from the Chinese government, the BOOC attempts to cover this cost through market operations. According to the BOOC, TV broadcast of the games, market development with Olympic sponsors and partners, Olympic Games branding and ticketing sales will provide sufficient fund to operate the 2008 games. According to Yu, the construction of every competition and training facility for the Olympic Games is sponsored by enterprises. After the game, the facilities will be handed over to the enterprises for further operational plans. The 2008 Olympic is expected to bring its host country a net profit of around US$30 million, thereby contributing towards a fund for Chinese athletes, added Yu. Copyright © 2007 www.chinaknowledge.com Send feedback or comments to: news@chinaknowledge.com For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: To access our page on Bloomberg, type CKFI
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