Ice scuplture in the shape of the Olympic rings at the Jinshan Square in Altay, China's Xinjiang Uygur Autonomous Region

The state-run China Daily newspaper has reported the 2008 Olympics will create more than 1.8 million jobs in Beijing and boost the Chinese capital's overall economic growth.

The newspaper cited a new economic outlook by two statisticians for the city government that says Beijing's economy will grow 9.8 percent annually between now and 2008. That is an increase of almost one percentage point (0.8) from the annual average between 2001 and 2005.

The report says more than 50 sectors of the economy will benefit from the Games, with construction leading the way with more than 20 percent of the growth.

The 2008 Games have spurred Beijing to launch numerous infrastructure development projects, including expanded highway and subway systems, an Olympic sports and culture zone and 17 new gymnasiums.