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China sees Beijing jobs bonanza from 2008 Olympics
The 2008 Olympics will create 1.8 million jobs in Beijing over the next four years and trigger 0.8 percent annual growth for the Chinese capital's economy, domestic media said on Friday. Most of the new jobs should go to low-paid migrant construction workers, like those already teeming around building sites for Beijing's main Olympic venues, new highways and subway lines. "For the next two years, most of the jobs will be in construction," the Beijing News said, citing a report issued by the municipal government. "Job creation will peak in 2007 and 2008, when the service sector will show especially fast growth." Beijing plans to have 800 high-class hotels operating by 2008, up from more than 600 now, as it expects to receive over 4.4 million overseas and 150 million domestic tourists the year the Olympics come to town, state media have said. The employment boom could help allay some of Beijing's massive Olympics-related costs. China has already poured nearly $4 billion into building the five main Olympic venues, with around $1.5 billion due to go to their construction this year alone, state media have reported. Chinese Olympic organisers estimate the total bill for the 2008 Games should come in around $40 billion, with most of the money going to construction of new roads and subway lines and efforts to improve the city's power grid and environment.
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