How much economic benefits can this Beijing Olympic Games bring to China?

As the opening day of the Olympic Games approaches, the market is beginning to worry whether China will face economic depression after the Olympic Games, just like other Olympic host countries. At the 2008 Olympic Economy (Beijing) Forum held in Beijing yesterday, officials from the Olympic Organizing Committee and experts from all over the world focused on this issue.

After the Olympic Games, it can still maintain the growth rate of 9%- 10% for several years.

"A year ago, people asked me if China's economy would decline after the Olympic Games. Will the overheated stock market crash? Will the property market collapse and so on? I wasn't sure at the time. I don't know what kind of cycle will appear in economic fluctuations. If it does decline after the Olympic Games, it is quite possible. But after these adjustments today, I am really confident that there is no reason to adjust after the Olympic Games. Perhaps it was after the Olympic Games that China's economy began a new round of relatively healthy and stable growth. " Fan Gang, chairman of the China Economic System Reform Research Foundation and director of the National Economic Research Institute, said at the forum that he was confident in his judgment.

Coincidentally, a research report released by Goldman Sachs on Monday also pointed out that if China can successfully maintain macroeconomic stability in 2008, it is believed that China's economy can still maintain a real annual growth rate of 9%- 10% for several years after the Olympic Games.

Fan Gang said that Beijing's investment in fixed assets will not drop significantly after the Olympic Games. "Although Beijing is more advanced than the central and western regions and other backward areas, it is still in the early stage of development." Fan Gang said frankly that he is optimistic about the post-Olympic economy because he is optimistic about Beijing's future economic development trend. "(Beijing) The demand for infrastructure, urban housing and various urban facilities will still have great potential in the next ten or twenty years. "

"Even if Beijing's investment fluctuates after the Olympic Games, social investment and investment in stadiums and gymnasiums suddenly decline, and investment in infrastructure projects suddenly decreases, the impact on the whole country is still limited." In his view, China's economy will not suddenly decline because of a slight decrease in Beijing's investment.

The austerity policy before the Olympics ensured that the economy would not decline.

At the meeting, some experts told reporters that the current economic situation has reduced the possibility of economic recession after the Olympic Games. Fan Gang also agrees with this view. "Especially since the second half of last year, the stock market bubble has been bursting and the economy has returned to normal growth."

A recent report by Morgan Stanley on China's economic prospects after the Beijing Olympic Games pointed out that some characteristics may reduce the degree of recession. "

In Fan Gang's view, "If the economy continues to rise and overheat before the Olympic Games and the stock market and property market continue to bubble without proper adjustment and correction, after the Olympic Games, the economy may indeed show signs of recession under the expected effect." Goldman Sachs' research also pointed out that if the macroeconomic policy is too loose when the Olympic Games approaches and the policy is forced to tighten after the Olympic Games, then the economy will inevitably go down periodically.

"However, since the end of last year, China has been adjusting its macro economy," Fan Gang said in an interview. "With the introduction of various economic policies this year, this adjustment will be more effective. This reduces the causes of the economic recession after the Olympic Games, at least reducing the possibility. "

Olympic revenue is expected to exceed $6 billion

The Olympic economy will not end because of the end of investment, on the contrary, there are more development opportunities waiting. The Olympic Games will bring great business opportunities to China's economy.

"The service industry is an important growth point of the future economy." Li Yining, a famous economist and honorary dean of Guanghua School of Management of Peking University, said at a recent report on the macroeconomic situation of Peking University that the Olympic Games will raise the level of China's service industry, including finance, electronics, tourism, sales, restaurants and hotels, to a new level and will have a lasting impact.

As the only bank partner of Beijing 2008 Olympic Games, China Bank has benefited a lot. At the Beijing Forum on Olympic Economy, Xiao Gang, chairman of China Bank, disclosed for the first time that at present, the direct income of China Bank from sponsoring the Olympic Games has exceeded the total investment of Olympic sponsorship.

"Just selling Olympic souvenirs, our income reached 3.5 billion yuan, so I can tell you with confidence and pleasure that our cost has been recovered." Xiaogang said.

"The 2008 Olympic Games has brought opportunities for Beijing's development in many aspects," said Wang Wei, executive vice chairman and secretary general of the 29th Olympic Games Organizing Committee. "The construction of Olympic venues has promoted the development of Beijing's economy, and the Olympic economy has promoted the optimization and upgrading of Beijing's traditional industrial structure to a modern industrial structure."

Chen Jian of Beijing Olympic Economic Research Association predicts that after the 2008 Beijing Olympic Games, China's tourism industry will continue to benefit for about 10 years. According to the prediction of Beijing Olympic Economic Research Association, 600,000 foreign tourists will flood into Beijing to watch the Olympic Games. It is estimated that about 4.5 million foreign tourists will come to Beijing this year, spending a total of 4.8 billion to 4.9 billion US dollars.

Clara graton, a British professor of sports economics, even said that the Olympic Games would bring at least $6 billion to China. According to their estimation, the investment of the whole Olympic Games reached about 30 billion dollars, which had a great impact on China's economy before and after the Olympic Games.

Graton said at the meeting that the benefits brought by the Olympic Games are not only reflected in economic data. "Olympic investment can change Beijing's transportation facilities," he said. All these investments will bring benefits in the next 40 to 50 years.

In his view, the Olympic economy is concerned not only with the economic benefits brought by the Games, but also with the extent to which the investment in these infrastructures can improve people's living environment.