China is coming up with ways to make use of Olympic venues in Beijing and recoup some of the money spent to build them, AP reported. The NBA and private developers will run stadiums and arenas. The Water Cube aquatic center will become a public pool. Its name will also be licensed for a bottled water brand. Companies can also bid on the naming rights for National Stadium, currently nicknamed the "Bird’s Nest." Du Wei, vice president of the Beijing Olympic Economy Research Association, said the venues will open up for public use after the Paralympics, which run from September 6-17. But it could take decades for the venues to pay for themselves. Beijing built 12 permanent and eight temporary venues and refurbished 11 others at a cost of US$1.9 billion. The Water Cube has already raised money by licensing its name for use on swimsuits. Athlete housing will be converted into luxury apartments.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved