Beijing has raised more funds for the Olympic Games than the expected goal, which has laid a "reliable and stable foundation for the success of the 2008 Olympic Game", Jiang Xuyu, Executive Vice-President of the Beijing Organizing Committee for the Games of the 29th Olympiad said on Oct 19.

"The budget for Beijing Olympic Games will be no higher than the Athens Olympiad's $2.4 billion. The goal to earn $ 16 million can absolutely be achieved," Jiang added.

About 50 percent of the Beijing Olympic Games' revenue come from the IOC; about 10 percent is from ticket sales and souvenirs, and the sponsors will provide 200 to 300 million US dollars. Other parts will be raised by the Beijing Organizing Committee for the Games of the 29th Olympiad.

By People's Daily Online