Shanghai Aims to Make Profit from 2010 World Expo

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Last updated at: (Beijing Time) Thursday, February 21, 2002

Shanghai Aims to Make Profit from 2010 World Expo

Shanghai is confident that it will make a profit of more than 9 billion yuan (US$110 million) if it hosts the 2010 World Expo. The city is putting every effort into its bid to host the 2010 World Expo, which if successful will increase China's commercial contact with other countries and bring many new business opportunities.

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Big profit expected

Shanghai is confident that it will make a profit of more than 9 billion yuan (US$110 million) if it hosts the 2010 World Expo.

According to Wednesday's China Youth Daily experts estimate that admission fees will bring in 7.3 billion and the sale of food and drink 1.3 million, without counting any other source of income.

It is expected that 43 million people will visit the expo.

The paper quoted a Shanghai tourism official Yao Mingbao as saying that each yuan spent at the expo will bring 4.3 yuan to industries such as transportation, electricity and telecommuncations.

New business opportunities

The city is putting every effort into its bid to host the 2010 World Expo, which if successful will increase China's commercial contact with other countries and bring many new business opportunities.

Chen Liangyu, acting mayor of Shanghai and director of the bidding committee, said recently that east China's financial sector, with the support of the central government, is confident in its ability to host the fair because of the city's well-known economic and cultural dynamism.

If Shanghai wins the bid, it will be the first time in the 150 year history of the event that a developing nation has hosted the fair.

Russia, the Republic of Korea, Mexico, Poland and Argentina have also filed applications to the International Expositions Bureau (BIE) to be included in the bid.

World Expositions

World Expositions are defined by the Bureau international des expositions / International bureau of expositions ( B.I.E ) as a forum for the exchange of information which fosters better understanding amongst people. Each nation is invited to share its ideas and to demonstrate the progress it has achieved on a theme determined by the exposition organizer.

The B.I.E., a Paris-based organization of 88 member nations, regulates the frequency and quality of World expositions.

China Supports Shanghai in Bidding for World Expo 2010

The Chinese government gives full support to Shanghai in its bidding to host the World Exposition 2010, Chinese Ambassador to France Wu Jianmin said in December, 2001.

Wu made the remarks at the general assembly of the Bureau on International Exposition (BIE), at which cities from six countries presented their candidatures for the universal event.

"It's a formal engagement that my government has taken...It will give full support to the municipality of Shanghai in its efforts in making World Expo 2010 a full success," said the ambassador. >>details

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