The World Carnival in Beijing has suffered losses worth nearly 20 million yuan (US$2.4 million), and will close as scheduled this Sunday. 

President of the event Zhang Shuhua says the number of tourists has been far less than expected since the opening in early July.

With an investment of almost US$15 million, the money-spinning gala this year has not seen the same success as it did in Shanghai last year, which earned about US$16 million.

Organizers say the unusual rainy weather of the Chinese capital this summer, plus extra cost of more personnel and toys prepared for the Beijing event led to the loss in revenue.

But since there is still one week left for the event, organizers say they will try to make ends meet.

Despite the unexpected losses this year, they also plan to hold the event annually in Beijing before 2008.

Earlier, plan to delay the closing of the World Carnival in Beijing for a week was shelved because of opposition from nearby residents who complain about the noise and flashing lights at night.

(CRI.com August 16, 2004)