The joint-investors model eliminates the investment risk of not only the government, but also the private partner, because the latter took the venue's future operation into consideration while designing its various functions. In this way, each partner's rights, responsibilities and profit distribution are clearly set out at the start, and the venues are operated by professionals hired by private enterprises. The resulting risks are greatly minimized compared to the former model, wherein government sports administrators are left to run the venues after games.

    A Commercial Focus

    The Olympic Green still remains a must for many tourists though enthusiasm appears to be fading. However, curiosity can't support the venues' operation over the long run, and tourism is just one of the many effective ways to make use of the venues. It is estimated that the Bird's Nest needs 35 years of annual revenues amounting to at least US $30 million in order to recoup the RMB 3.6 billion investment already sunk into its construction and maintenance, plus loan interest. A single entry fee is only RMB 50 per person and now the number of visitors has shrunk from 80,000 per day at peak periods to 5,000 or 6,000 per day. The income from tickets declined precipitously on the conclusion of the Games. "Few people would spend RMB 50 to visit the historic spot again and again," points out Wang Chun, executive deputy director of the Olympic Green Management Committee.

    Hosting commercial performances and sports events is another major revenue-generator. During the National Day holiday last year, a symphonic concert titled "Dream of the Water Cube," coupled with a musical water and light show, debuted at the National Aquatic Center. That was the first time the Water Cube was turned to commercial purposes. "We started thinking about the possible post-Game use of the Water Cube ever since we broke the ground for its construction," mentions Kang Wei, board chairman of the National Aquatic Center Company. "Gradually we formed the idea of hosting concerts. We hope to create a sense of wonder by blending high technology and elemental art." The audience for the "Dream of the Water Cube" was mainly tourists. They were gratified to be able to appreciate the performance as well as take a look at the unusual bubble or "molecule" design. Currently the ballet classic Swan Lake is being staged at the famous swimming pool, which creates an authentic, if somewhat unusual, setting for the work.

    Besides the Water Cube, other venues, including the National Indoor Stadium, the National Conference Center, the Capital Indoor Stadium and the Workers' Gymnasium, have all focused their energy on luring large-scale commercial performances. By the end of March this year, the National Indoor Stadium had set the stage for 22 high-end commercial activities, bringing in approximately RMB 20 million. Though the post-Game transformation of the National Conference Center will not be complete until November 2009, conference and exhibition bookings have been scheduled through to 2016, with nearly 70 of them for 2010.

    By contrast, the Bird's Nest management is more cautious and circumspect than other venues about what commercial activities it hosts. On the night of May 1 this year, the stadium mounted the concert "Jackie Chan and His Friends," the first major public event within its walls since the Games ended more than eight months ago. Kung Fu star Chan drew a 50,000-strong audience that night, so the queue outside the only food store on the third floor was conspicuously long, and some 700 security guards were in place. One month later the "Charm of China" concert – the initial event of the "National Stadium Summer Concert Series" – opened, giving top billing to Chinese soprano Song Zuying, Spanish tenor Placido Domingo, Chinese pianist Lang Lang and Chinese pop idol Jay Chou. At 8 p.m. on August 8, exactly a year after the opening of the Beijing Olympic Games, the Italian Super Cup kicked off at the Bird's Nest. The match was between the newly-crowned Series A champion Inter Milan and reigning Cup champions Lazio, and Lazio sank Inter Milan 2-1. According to the game organizing committee, ticket revenues exceeded RMB 70 million.

    "The schedule for performances in the Bird's Nest is full this year," confirms Yang Weiying, executive deputy general manager of Beijing CITIC Consortium Stadium Operation Co., Ltd. He also stresses that shows aspiring to open at the Bird's Nest must meet certain standards. "Events are carefully selected to reflect the world-class status of the Bird's Nest arena, meaning high-profile national and international events are the ones that make the grade," he adds.