China Offers 100 Million US Dollars to Developing Countries for 2010 Expo

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Last updated at: (Beijing Time) Friday, September 13, 2002

China Offers 100 Million US Dollars to Developing Countries for 2010 Expo

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China will provide developing countries with up to 100 million US dollars in assistance for them to attend the 2010 World Exposition if Shanghai hosts the event, a senior Chinese official said in Beijing on Thursday.

Xu Shaoshi, vice chairman of the Expo 2010 Shanghai China State Bidding Committee and Deputy Secretary General of the State Council, said during a briefing to foreign diplomatic missions in China and the press that the 100 million US dollars assistance would cover the transport of personnel and exhibits and the design and construction of pavilions.

Xu said the Chinese Government stood firmly behind Shanghai's bid for the 2010 World Expo. The central government has pledged to provide Shanghai with all kinds of financial support and preferential taxation policies to host the event.

The expo would involve a direct investment of over three billion US dollars and an extended investment of up to 15 to 30 billion US dollars, and that meant huge business opportunities for investors, he said.

Yu Xiaosong, vice chairman of the Expo 2010 Shanghai China State Bidding Committee and president of the China Council for the Promotion of International Trade, said a business support team, composed of 50 domestic and foreign-funded companies in China, had been established to show support for the bid from China's 10 million strong business and industrial enterprises.

Chen Liangyu, vice chairman of the Expo 2010 Shanghai China State Bidding Committee and Mayor of Shanghai, said the theme for the Expo 2010 in Shanghai was "Better City, Better Life". He expects more than 70 million visitors will attend the expo.

With mainly state governments and international organizations participating, the world exposition is different from trade exhibitions. Since the first London Expo in 1851, it has developed into a top-class event showcasing international economies, science and technology and culture.

If Shanghai wins the bid, it will be the first time the World Exposition has been held in a developing country. But Shanghai is competing against four other cities including Moscow in the final vote in December in Monaco.

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