Chinese Business Community Pledges Support to Shanghai Expo Bidding

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Last updated at: (Beijing Time) Wednesday, July 03, 2002

Chinese Business Community Pledges Support to Shanghai Expo Bidding

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"To host World Expo 2010 will not only promote the economic development of Shanghai and China, but also offer great opportunities for participating countries and regions," Chairman of the China Chamber of International Commerce Yu Xiaosong said Tuesday in Paris.

"I declare that the Chinese business community pledges full support and assistance to Shanghai's bidding for World Expo 2010,"said Yu in his presentation at the 131st general assembly of the Bureau of International Exposition (BIE).

"Today, foreign trade of China ranks sixth in the world. More than 180 countries and regions have invested in about 400,000 companies in China," said Yu.

"Shanghai is the biggest and world-class commercial city in China. A support group for her bidding to World Expo 2010 consisting of Chinese and foreign companies have been established," he added.

Shanghai competes against Moscow, the Mexico City, Poland's Wroslaw and South Korea's Yueso to host the large-scale global event dubbed as the Olympic Games in economy, culture and science and technologies.

The BIE general conference will decide the host country by secret ballot eight years ahead of the opening date, which means December this year for World Expo 2010.

The candidate wins the bidding if it receives a two-third majority on the first vote. Otherwise a second vote will be held and the one getting the least vote is eliminated in the second vote.

If no one wins a two-third majority in the second round, a third vote will be held. The same procedure goes on till the finalround with no more than two countries. Then the candidate who getsthe larger vote wins.

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