Beijing will not face a major economic downturn after the 2008 Olympic Games, said Chen Jian, chairman of the Beijing Olympic Economy Research Association, the China Securities Journal reported Wednesday.
Beijing will continue to promote the development of high-technology, financial and creative industries and it will also take steps to develop the producer-services sector and social services sector, Chen said.
These industrial adjustments will provide powerful support to the growth of post-Olympics investment, he added.
As for specifics, Chen pointed to finance, telecommunication, transportation, tourism, recreational sports and exhibition as the top six industries expected to achieve accelerated development.
The most significant of these is the development of the financial industry.
Chen also said cooperation between the sports and financial industries is imperative in the current situation.
Many countries have already started to use securitization instruments to finance the sports sector. For example, many sports venues in the U.S. use revenue from membership fees, television broadcasting, title sponsorship rights and advertising for principal funds and conduct securitization transactions for operating funds. Most football clubs in England operate similarly.
Thus, sports-related financial innovations will be an inevitable trend after the Olympic Games.
For more details, please read the full story in Chinese:
(http://paper.cs.com.cn/html/2008-07/23/content_16899514.htm)
(China.org.cn by Yan Pei, July 23, 2008)
