Overseas Money Financing Swimming Venue for Beijing Olympics

BEIJING, China, October 19. THE swimming venue for the 2008 Olympic Games in Beijing, known as the Water Cube, has received $110 million in financing from Chinese living overseas. That figure was announced Friday by Liu Jingmin, the Executive Vice President of the Beijing Organizing Committee. There are approximately 60 million Chinese living around the world and further financial assistance is a possibility as the Games grow closer.

The state-of-the-art venue is eye-catching, appearing as if it is encased in a type of bubble wrap. The Water Cube figures to be one of the highlight arenas, particularly with Michael Phelps expected to chase, as he did in Athens, Mark Spitz's seven-gold medal haul from the 1972 Olympics in Munich.

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