Construction and renovation of all 19 new Olympic venues will be open for public bidding worldwide and foreign companies are invited to compete, said the Mayor of Beijing Liu Qi.

Projects in 2008 Olympic Games include the renovation of 14 existing sports venues, the development of the Olympic Park as well as other infrastructure and environmental protection facilities, all expected to bring billions of dollars to global investors.

Vowing to hold a 'green Olympics,' the mayor said by the year 2008, all trash in the city would be disposed, 90 percent of waste water would be under sewage disposal, and the air quality would be up to international standards.

Apart from a limited pool of government spending, most of the funds to finance the summer games will be raised through market-oriented channels, and a detailed funding plan is expected to be released soon.

Earlier reports said that a total of US$1.65 billion needs to be collected to finance the country's first ever Olympics.

As part of the plan to enhance local infrastructure, at least 140 kilometers of Beijing's subway system and 300 kilometers of freeway need to be built in the next seven years, said Liu, during the ongoing Fifth Session of the Ninth National People's Congress Thursday.

But he also said that the Games should be run economically, and "the building of the Olympic venues should not only meet the demand of the Games, but also take into consideration post-game utilization.''

To secure an efficient, clean and open environment, a special supervision committee has already been established to clamp down on corruption.

Headed by officials from the central government, the members of the committee are top lawmakers, specialists, accountants, and auditors.

"There will be no scandals or corruption in the 2008 Olympics,'' said Liu.

The entire process of preparation will be open to the public, said Liu.

Liu added that economic growth of Beijing would bring residents more business opportunities, jobs and better living conditions.

Nearly 4,000 staff members will be hired to help prepare for the games, an increase from the current 100. This will bring talents from all walks of life, the mayor said.

( People's Daily March 8, 2002)