Beijing deputy mayor Lu Hao said that he personally doesn't believe Beijing's economy will experience any major economic turbulence, according to last Saturday¡¯s Beijing News report.

Lu was attending a gathering of local Beijing government officials and Taiwanese business leaders last Friday.

This was Lu's first appearance at the gathering, the 15th in its history, after the 39-year-old took over the capital's Office of Taiwan Affairs, according to the Beijing News report.

"Hosting the Olympic Games is playing an important part in Beijing's economic growth, but post-2008 Beijing will not go through major economic turbulence like Tokyo and Seoul have experienced," Beijing News quoted Lu as saying.

"Beijing's economic growth was prompted mainly by the growing service industry, which is inevitable in China¡¯s industrial process."

During the meeting, business leaders also complained about the municipality rule that limits Taiwanese to only one piece of housing real estate per person. Lu, explained that his city has to compromise investing needs for living needs

Six Taiwanese enterprises signed an agreement with the State Development Bank, Huaxia Bank and Beijing Bank, which will provide RMB 145 million loans to solve the enterprise financing problems.