CoreNet Urges Chinese Sustainability

More than 250 CoreNet members conclude that China's development stands to gain considerably as its capital hosts this year's Summer Olympics. At best, 22% of survey respondents express that the Chinese are committed half-heartedly to sustainable office construction, while an overwhelming 78% say the Middle Kingdom needs to tighten environmental protection standards.

Less than a third of the respondents doubt the intense international media attention surrounding the Olympics will make any difference toward China's environmental standards. Yet 62% are more optimistic, saying the games will prompt incremental progress.

"What CoreNet Global members are saying is that we applaud the environmental progress the Chinese have made, but we firmly believe there is a great deal of room for improvement," CoreNet CEO Prentice Knight stated in survey results. "A majority of our members around the world feel that the Beijing Olympic Games will do much to intensify Chinese development and enhance Beijing's image as a development hot spot."

While 57% of CoreNet members believe Beijing is primed for an economic boom regardless of its status as an Olympics host, an overwhelming 65% think those gains may be superficial, saying the 16-day event will enhance China's "image" as a prime development opportunity.

Roughly half of respondents express that enhanced perceptions of China might be the Beijing games' greatest legacy, followed by commuter trains and transportation infrastructure built in advance of the Olympics. Other legacies include brand identity for Beijing, hotels and sports venues such as the Bird's Nest stadium.

More specifically, CoreNet notes a divide among its members in what the Olympics will mean for capital investments in China. Half say the Olympics will spur increased capital investments, while 41% say they will stay the same and 9% think the Olympics will cause capital investments to decrease after the games.

CoreNet also asked its members to rank which hosts of Olympics dating back to 1994 have benefited most. Sydney topped those rankings with 36% of the vote, followed by Atlanta with 25% and Athens with 21%.