ues, including existing ski resorts and some newly built projects, to host all eight Olympic snow
sports in 2022. The three clusters will be connected by a new high-speed railway, which will be com
pleted by the end of this year. It looks beyond the Games to boost future winter sports tourism.
According to the organizing committee, all 26 venues for 2022 will be ready by June next year with the first t
est event, a World Cup skiing series, scheduled to be held in Yanqing’s National Alpine Skiing Center in February.
About 90 percent of the earth moving work for the mountain center is now complete, and a 53-hec
tare forest reserve has been built nearby for transplantation of all the trees affected by the construction.
“The preparations are ready to step up to the next stage, from planning to the readiness
phase. Beijing is ahead in the race against time,” said Liu Yumin, director of the planning, construction and
sustainable development department of the 2022 Olympic Organizing Committee.
tribute to deleveraging, Hu said.
“The large-scale reduction of taxes and fees could efficiently reduce burdens on enterpris
es and strengthen their ability to repay debts and absorb equity financing,” she said.
Zhu Min, chair of the National Institute of Financial Research at Tsinghua University, sai
d it is clear that China will “move more on fiscal policy than monetary policy” to offset short-term economic challenges.
This year’s tax and fee cut on enterprises－worth nearly 2 trillion yuan ($297.8 billion)－is “really encouraging”, which will
improve their productivity and efficiency, said Zhu, a former deputy managing director of the International Monetary Fund.
The debt level, especially for State-owned enterprises, is still high, Zhu said, making i
t necessary to continue deleveraging to contain risks and achieve sustainable growth.