Over $2 billion lost in varsity games in China

Discussion in 'China' started by Daredevil, Dec 30, 2012.

  1. Daredevil

    Daredevil On Vacation! Administrator

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    A mega sporting event held in China last year caused a loss of 12.78 billion yuan (over $2 billion) as authorities failed to contain their expenditure within budget, an audit report has revealed.

    The largest-ever world university games were held in China's Shenzhen city between Aug 12 and 23, 2011.

    Organised for university athletes by the International University Sports Federation, the games are an international multi-sport event, Shanghai Daily reported.

    According to a report released by the city's audit office, the income raised from the 26th Summer Universiade stood at 1.21 billion yuan ($195 million) from ticket sales and other promotional considerations whereas the games' expenses were 13.99 billion yuan.

    The report found the event went dramatically over budget mainly because some of the projects exceeded their budget, some made purchases that were unauthorised or in violation of rules, and some didn't have budgets.

    Organisers spent 4.49 billion yuan on operating the games, including the opening and closing ceremony; 7.52 billion yuan on building and renovating venues; and 1.986 billion yuan on other support facilities, the audit showed.

    http://www.newstrackindia.com/newsd...-billion-lost-in-varsity-games-in-China-.html
     
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  3. cinoti

    cinoti Tihar Jail Banned

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    Yup. This is widely covered in China's media too.

    The heavier loss is in the society, stupid Guangdong Governor Wang Yang even forced migrate workers to stay out of Shenzhen when the events are holding.
    and this is not the stupidest thing he ever did.

    This being said, commonwealth Delhi game is nothing better off, I still recall your 80 US dollars toilet paper, if I were you I won't throw stone in my own green house.
     
  4. JBH22

    JBH22 Senior Member Senior Member

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    Comparison with commonwealth games soothe your embarrassment.

    Anyway in PRC the comrades work for the common man so such activities should not happen only in corrupt democratic state like India this happens :p
     
  5. cinoti

    cinoti Tihar Jail Banned

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    Nah, comparing with lesser or worse soothes nothing but only enhances the embarrassment.
    what I don't understand is why you guys feel you are entitled to blame China while your own problem is worse.
     
  6. JBH22

    JBH22 Senior Member Senior Member

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    Instead of accusing us of a witch hunt against China put your house in order,the article posted here is not an invention of any Indian.
     

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