In the backdrop of expectations, excitements, apprehensions, opposition and undue criticism, the stage is set for Beijing Olympics 2008. Beijing Olympics and Paralympics are of great importance in promoting China's economic and social development and increase friendship and cooperation with other countries. Moreover, Chinese are considering this opportunity not only a national pride but also a valuable legacy for future generation. Major sports events are often seen as potential source of economic regeneration, yet these presences often invoke powerful opposition.

In July of 2001, Beijing, the capital city of China was awarded, the 28th Summer Olympic Games .Since that day, we have seen a very strong antagonism. The anti Chinese lobbies have hatched a media war against the Beijing Olympics and often showering undue criticism. Recent humiliation of Olympic torch is a classic example of such animosity.

So called human rights activists have shown their loyalty to their masters and staged

demonstrations and protests. The protesters alleged that China is holding Olympics without any public support, after winning the bid, the Olympics games bid committee had conducted a poll and results have discarded the objection raised by the protesters. The results showed that 94.6 per cent Chinese people have supported the bid. Some quarters have raised voice on the huge and unnecessary spending on the Games.

In response to above concern, the Beijing authorities had launched a cost cutting exercise .The Municipal Government has scraped several plans, reduced Olympic venues and existing facilities had been utilised as much as possible. Though bulk of the investment is being done by the government, however the private sector had also contributed generously. Although, Beijing authorities claim that the private investors have covered much of the cost of building facilities. Several companies, local and international had heavily invested in Beijing Olympics and hoping for future dividend.

It is an established fact that the construction cost is much cheaper in China when compare with other countries, so the authorities hoped that the total cost of the Beijing Olympics would stay a half billion short to that of Athens Olympics 2004 which was US $ 2.5 billion.

Some sports experts forecast that China will encounter with Valley Effect. Many economist including UN resident coordinator in China , Khaild Malik and World Bank new chief economist Justin Yifulin disagree with the idea and believe that the China will not face any recession caused by investment declines after the games; as the volume of Chinese economy is much larger then some Olympic hosts that experienced post games recessions. In addition, the municipal government had already embarked on several new mega projects like South-North water project, Beijing-Shanghai high speed railway project. These projects will create huge demand for investment. Besides, China will host a number of international events like the 2010 World Expo in Shanghai and 2010 Asian Games in Guangzhou. Ongoing projects and upcoming international events will keep economic activities live and may further speed up the economy, so there is little possibility that the Chinese economy will undergo into any recession.

Some people have shown their concern for the post Olympic utilization of the infrastructure that may become white elephant after the games. As a matter of fact, most of the Beijing Olympics projects have been built with their post-Olympic functions. The national swim centre, for example, was designed as entertainment palace, complete with wave pool, artificial beach, fitness club, skating ring, cinema, restaurant and shops. Other venues will be turned into professional sports stadium and private health clubs. Similarly some sports venues and athletes house are to be sold off as luxury apartments.

There is lot of misinformation being spread on the resettlement of residents and allegedly abolishment of their houses for the construction of the Olympics venues in Beijing.

Responding the issue, Beijing Municipal Construction Commission held a press conference at Olympic Media Centre with attendance of more then 100 journalist from up to 60 Chinese and foreign media. The conference told the media that Chinese people consider the Olympics as a national pride, so the affected house holds extended full support and resettlement project was carried out smoothly. All house holds were relocated willingly after the consultation and mutual agreement; hence no one was compelled to relocate. The Beijing Municipal Construction Commission used market evaluation, and compiled with laws and regulations in setting levels of compensation. Given the commercial housing price of those areas of the time, relocated residents would be able to afford housing near neighborhoods.