Olympic Budget Boosted
The appreciation of the Chinese currency and the heightened tasks in security management have driven up Beijing's Olympic budget from $1.6 billion to $2 billion, Liu Jingmin, Executive Vice President of the Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG), said on October 19, during a press conference held at the press center for the 17th National Congress of the Communist Party of China (CPC).
The figure remains short of the $2.4-billion budget for the Athens Olympics in 2004, he noted, adding that the committee would make a second revision of the budget in line with needs.
"According to the regulations of the International Olympic Committee, BOCOG will release three versions of the budget. Each revision will be conducted based on the changes to preparation work and the exchange rate," said Liu. The latest release is the second version of the budget.
Output Reduction for the Olympics
Beijing Shougang Group, a leading steel manufacturer in China, pledged an output reduction of more than 70 percent from next July to September to ensure the Olympics enjoys improved air quality.
"During July, August and September next year, the group will cut its production to less than 30 percent of its normal capacity to help the Beijing Municipal Government fulfill its commitment to improving air quality for the Olympics," said group head Zhu Jimin on October 22. He said the bottom line is that the company's equipment will not suffer from any damage and the safety of its furnace system will be guaranteed.
According to its plan, Shougang will reduce its annual output capacity of 8 million tons at the Beijing plant to 4 million tons at the end of this year.
The steel company, built in 1919 and located 17 km west of Tiananmen Square, has been the worst polluter in Beijing for years. As one of the efforts made by the Chinese Government to improve air quality, the steel company began in 2005 to relocate its facilities to a tiny island in Hebei Province, some 200 km east of Beijing. The new plant will be completed in 2010.
Between 1995 and 2006, Shougang has pumped a total investment of 2.1 billion yuan into pollution reduction technological upgrades, achieving a two-thirds reduction in major pollutants. "Due to our efforts in the last 10 years, Shougang's environment-friendly production has reached an internationally advanced level. But as a steel company, the emission of waste gas, dust and particles is unavoidable. Thus we have to make the sacrifice for the Olympics, and we are willing to do so," said Zhu.
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