BEIJING, Sept 6: Beijing Olympic organizers are seeking ways to cut up to six billion yuan (US$724m) off the cost of building Games venues, including possibly moving the equestrian events to Hong Kong.

The cost-cutting comes after Beijing mayor Wang Qishan urged frugality in the building of 18 sports facilities for the 2008 event that were expected to cost more than US$3b.

"I can only say that at this time that we are planning to save several billion yuan," Yang Zhaoke, from the office for Olympic Economy of the Beijing Developmental and Reform Commissions said. "Whether we can save four, five or six billion can only come after a general accounting from the departments in charge of the projects." -AFP