Beijing, Jan 30 China plans to convert the mammoth&aposBird&aposs Nest&aposstadium, the main 2008 Olympic venue here, into a unique shopping and entertainment complex since the yearly maintenance of the world&aposs largest steel structure is costing the exchequer a staggering USD 8.82 million, the state media reported today.

Viewed as a symbol of China&aposs rising power, the Bird&aposs Nest is officially known as the Beijing National Stadium.

The 250,000-square-metre showpiece of the 2008 Olympics was built at a cost of some USD 450 million. However, the state-of-the-art sports facility has fallen into disuse since the end of the Games.

A major Chinese company will now transform the area around the Bird&aposs Nest stadium into a shopping and entertainment complex in three to five years, Xinhua news agency reported.

The"Bird&aposs Nest"will continue to develop tourism as its major business, while gradually tapping its auxiliary commercial facilities and turning them into a station for entertainment and shopping, said the Citic Group.

The stadium will also hold sports and entertainment events, said the company, adding that it seeks to further promote the brand of the National Stadium.

The CITIC Group has established a separate company, Beijing Urban Construction Group and Golden State Holding Group Corporation, to focus on the operation of the"Bird&aposs Nest"business.

According to the company, maintenance of the stadium, built with some 110,000 tonnes of steel will annually cost 60 million yuan (about 8.82 million US dollars), making it particularly hard to make profit.