Breaking News – Beijing Olympic Games Cost a Record 400 Billion Yuan
When the Chinese Communist regime planned the budget for the Olympic Games years ago, the budget was estimated at 30 billion Yuan. However, by the end of March 2008, the estimate has gone up to over 400 billion.
According to “Zheng Ming Magazine”, The Beijing Olympic Games are listed as the top priority of the four major tasks in 2008 by the Chinese Communist regime. After China won the bid to host the Olympic Games, the Chinese Communist regime estimated that the cost would be between 28 to 30 billion Yuan; this included the cost for building stadiums, the Olympic Village, a complete transport package and subsidiary facilities.
However, the budget kept going up every year. By the end of March 2008, the cost has gone over 400 billion, and more funding is required from the central government to cover the cost for security, subsidiary facilities and maintenance work.
The Olympic Games have been used by the CCP as another one of their “face projects” and they are trying to beautify things at all costs. According to the latest estimate by the Beijing Olympic Game Organizing Group, the total expenditure in relation to the Olympic Games will be as high as 65 billion US dollars, equivalent to 450 billion Yuan. The current total cost will be five times the cost of the 2004 Olympic Games in Athens.
Driven by the “face project” mentality, the CCP officials are extremely extravagant when it comes to spending money and this is the fundamental reason for the record cost of the Beijing Olympic Games.
The above news is brought to you by Li Yuhan, and hosted by Chris Thomas for Breaking News on the SOH Radio Network.
May 14th, 2008
[...] crown jewel of sporting events, the 2008 Olympic Games, cost a reported 400 billion RMB, with 12 venues constructed for the two-week event. A 2006 New York Times article titled “The [...]
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