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China slash 12th national games budget by 78 per cent

China has cut down the budget for its 12th National Games by a hefty 78 per cent as the once booming economy has slowed down with no respite insight.

The total funding for the 12th National Games will be reduced to no more than 800 million yuan ($130 million) which is a huge drop of 78 per cent than the previous budget which was 3.6 billion Yuan ($590 million), said the Games’ organising committee.

China in the past hosted national and international sports events including the Beijing Olympics with lavish settings and spending. But now the era of high spending on lavish events appears to be a thing of past under the aegis of Xi Jinping.

‘For the opening and closing ceremonies, stadium construction, the torch relay and all other segments of the National Games, we strive to create, hopefully, a fresh fashion of organising big events in a thrift manner and reaping practical achievement at the same time,’ said He Min, deputy director of the organising committee of the Games to be held in China’s northeastern Liaoning Province.

The number of competition and training venues is reduced from 129 to 117. And only 10 stadiums are newly constructed for the Games, accounting for 8.5 of the total venues, state-run Xinhua news
agency reported.
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