China Not to Pin Hope on Being an Overnight Upstart in the Orient

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Last updated at: (Beijing Time) Friday, July 18, 2003

China Not to Pin Hope on Being an Overnight Upstart in the Orient

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Two years ago when Beijing won the bidding for the 2008 Olympic Games, we saw a great fervency over the forecast for the Chinese economy that the Games would bring about. However, two years later when Beijing is again celebrating its second anniversary in the winning people seem to take a more reasonable attitude towards the Olympic economy.

Some large stores such as "Shuang'an (Double Happiness)" in Beijing seem to have forgotten the day of winning the bid for the Olympic Games two years ago, posing a strangely calm attitude. From the 1st to the 4th floor in the "Shuang'an Store" we haven't seen any business promotion activities in connection with the two-year anniversary in the winning of the Games but do what they like as usual.

Up to now the potential influence to be exerted by the Olympic Games on the Chinese economy remains still an unknown number. However, it will undoubtedly exert a positive impact on the Chinese economy. The impact of the Olympic Games on China, experts are of the opinion, may not yet come to show at present but it is sure to come forward along with the ongoing of the time, and its influence over the economy will "be gradually felt" by the people in Beijing.

Liu Qi, Secretary of the Beijing Municipal CPC and Chairman of the 29th BOGOC expressed recently that the preparation for the Olympic Games constitutes an important opportunity for pushing forward the economy in Beijing and its social development. The ball will be set to roll as planned for the development of the market at the beginning of the coming September. By the time the plan is not only an important guarantee for the BOGOC to reap the revenue but will also speed up the development of other trades, make the national brands to come into being and bring about the development of the Olympic economy.

In historical point of view, the transition of the sports business into social and commodity businesses is a practical channel, holds Dong Zhiyong, a specialist in economy. But in a long-term point of view, when the global economy is still at low ebb China's successful bidding of the Olympic Games has created an environment more attractive to foreign businessmen. It has helped make "China the loveliest girl on the world arena" to catch the eyes of investors from all over the world.

The greatest influence of Beijing's successful bidding in the Olympic Games for Beijing and for China lies not merely in the business opportunities and economic growth brought about by it. Along with the approaching of the Games, the Chinese enterprises will get to know better about the conventional practices in the world business when taking part in the world competition for Olympic economy. And the Olympic Games will set an impetus on the development and process of maturity of the market economy in China.

The successful bidding in the Olympic Games will help spur up the economic growth of Beijing and of China, optimize the industrial structure and adjust its deployment. It will help promote the changes in the image of a city, raise its modernized level, help enhance the living standard and quality of the people, thereby promoting the progress of internationalization and marketization of the city of Beijing.

In 1964 and 1998 the Olympic Games twice staged in Asia which were followed with the growth of Japan and the ROC, the two robust economic countries in Asia. Will the 2008 Olympic Games help engender another economic power - China in Asia?

Today, people seem to have shown none of the enthusiasm as had two years before when we succeeded in the bidding for the Olympic Games, neither do we see any business zeal by using the opportunity. Nevertheless, still waters run deep. They are at their "loggerheads" in a stealthy way. The Olympic Games will exert a potential impetus on the Chinese economy. China, an all-time development and progress country is going by-and-by into a wonderful environment with the opportunity provided by the Games but not to pin its hope on an overnight upstart in the orient

Though China has always been cherishing the wish of becoming an economic strong in Asia and in the world the Chinese people, becoming more and more reasonable and maturer should not nor will they hope to make an overnight "brilliance". China, with thousands of years of brilliance in civilization will go forward step by step along the road.

By Han Rongliang, People's Daily Online

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