In the summer of 2001, the city won the bid to host the 2008 Summer Olympics and accelerated plans to expand the subway. From 2002 to 2008, the city planned to invest ¥63.8 billion (US$7.69 billion) in subway projects and build an ambitious "three ring, four horizontal, five vertical and seven radial" subway network. Work on Line 5 had already begun on September 25, 2000. Land clearing for Lines 4 and 10 began in November 2003 and construction commenced by the end of the year. Most new subway construction projects were funded by loans from the Big Four state banks. Line 4 was funded by the Beijing MTR Corporation, a joint-venture with the Hong Kong MTR. To achieve plans for 19 lines and by 2015, the city planned to invest a total of ¥200 billion ($29.2 billion).