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Chinanews, Beijing, Nov. 8 – Judging from various factors, it can be concluded that the economy in Beijing will not witness big fluctuations1 and the valley effect will not occur during the post-Olympic era, said Song Yu, an official at the Beijing Municipal Development and Reform Commission, on Monday.
He made the statement when delivering a report at the Eleventh Beijing-Hong Kong Economic Cooperation Symposium2. Compared with the other Olympic Games host cities, Beijing has a different developmental status. Its urbanization process, special features and external environment are all very different from the other cities, Song said. In Beijing, the Olympic construction fits well with the city's own urbanization process. The city's consumption structure shift and the industrial structure upgrade have provided a solid basis to ensure that the city's economy will grow steadily3 in future. Judging from its internal economic structure, it can be seen that in 2007, 80% of the investment in Beijing came from society and investment in Olympic construction accounted for less than 10% of the total investment. After the Olympic Games, the city's economic construction will be shifted to its city infrastructure4 construction, environmental protection and rural construction, Song said. From a larger point of view, the Circum-Bohai Bay area near Beijing is making a fast economic progress at present. This will also act as a strong boost for the capital's economy, Song noted5. In recent years, Beijing has outlined a comprehensive program for the city's construction during and after the Olympic Games. According to this program, Beijing will balance the development between urban and rural areas and make efforts to build some new towns and townships in the city's downtown area. The Beijing municipal government plans to develop the capital into six major functional6 zones. All these plans are aimed to make sure that the city's economic construction will remain robust7 after the Olympic Games, Song said.
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