Chinanews, Beijing, Oct. 19 – The organization cost for the 2008 Olympic Games will be raised from the previous 1.6 billion US dollars to about 2 billion US dollars, said Li Jingmin, vice mayor of Beijing, who is also vice chairman of the Beijing Olympic Games Organizing Committee, on Friday.

 

"In our Olympic bidding report, we once proposed that the organization cost for the Beijing Olympic Games might be a little bit more than 1.6 billion US dollars. However, judging from the present situation, we see that there might be some changes for the estimated figure. According to rules made by International Olympic Committee, during the organization period, we can modify our proposal for the organization cost three times, based on the changing of the work we are doing and the foreign exchange changing rates," Liu said.

 

At present, the Beijing Olympic Organizing Committee is trying to modify the cost for the second time. It proposes that the organization costs might be increased to about 2 billion US dollars, higher than the previously estimated 1.6 billion US dollars and lower than the 2.4 billion US dollars for the Athens Olympic Games, he said.

 

The Beijing Olympic Organizing Committee will present the third version for the organization cost in future, he said. The above-mentioned cost increase mainly come from the increased cost in security issue, as we have added more tasks for security guards, and also because Renminbi's exchange rate has changed, concluded Liu.