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Olympic Might Cost China US$2 billion
On Friday, October 19, 2007, China news in its website ‘Chinanews.cn’ reported that the 2008-Olympic Games might cost about 2 billion US dollars quoting Vice-mayor of Beijing and Vice-chairman of Beijing Olympic Games Organizing Committee Li Jingmin. "In our Olympic bidding report, we once proposed that the organization cost for the Beijing Olympic Games might be a little bit more than 1.6 billion US dollars. However, judging from the present situation, we see that there might be some changes for the estimated figure. According to rules made by International Olympic Committee, during the organization period, we can modify our proposal for the organization cost three times, based on the changing of the work we are doing and the foreign exchange changing rates," Liu said. At present, the Beijing Olympic Organizing Committee is trying to modify the cost for the second time. It proposes that the organization costs might be increased to about 2 billion US dollars, higher than the previously estimated 1.6 billion US dollars and lower than the 2.4 billion US dollars for the Athens Olympic Games, he said.
