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Tianjin to invest US$4.8b in Olympic projects
(Xinhua)
Updated: 2004-09-27 16:55 Tianjin to invest US$4.8b in
24 Olympic projects
As one of the supporting cities to the 2008 Beijing Olympic Games, north
China's port city of Tianjin will spend 40 billion yuan (about US$4.8 billion)
on its first group of 24 Olympic projects, said a municipal official.
Liu Meile, Deputy Director of Foreign Economic and Trade Committee of Nankai
District, Tianjin, said the city has decided to build the first 24 projects for
the Olympic Games, including hotels, a water sports center, a shopping mall, an
international sports communication center and other related projects.
Sources from the committee said the 2008 Games will make Tianjin an
attractive place for overseas investors, and nearly 40 Australian companies are
visiting Tianjin right now seeking Olympics-related business opportunities in
the city.
Liu said a three-day special business fair between Tianjin and Australian
companies will convene here on Friday. The Australian companies are expected to
bring the city a total investment of 400 million yuan (about US$48 million).
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