Similar concerns were voiced a year ago by Li Jianbo, who was then a senior GE manager and head of the American Chamber of Commerce committee on the Olympics. Li told a private forum that Chinese authorities were "unable to ensure that the bidding process is fair," according to a Chamber publication. And he said bidding for projects outside of Beijing was even murkier. "Rules don't apply" in these cases, Li said. He has since left GE and declined requests for further comment.

Peter Foss, president of GE's Olympic sponsorship, says Li's comments didn't represent the company's views. "I feel pretty good about the way we're treated," says Foss, adding that Olympic organizers are making a "strong and sincere effort" to conduct fair bidding.

Still, the Olympic buildup has been dogged by allegations of corruption. In June, Beijing Vice Mayor Liu Zhihua, who oversaw Olympic construction, was ousted for "corruption and dissoluteness," according to state media, though no details were given. Liu's fall from grace was in part due to property deals he handled in his position, according to people familiar with the matter. Several executives, including Liu Xiaoguang, chairman of a state-owned property firm, Beijing Capital Land, were questioned by authorities, the company confirms. Officials from the municipal government's construction arm and the Beijing Organizing Committee for the Games of the XXIX Olympiad declined repeated interview requests on the city's infrastructure buildup.

Even by Chinese standards, the construction boom around Beijing is impressive. For the Olympics, there will be 12 new stadiums, 11 renovated sites and eight newly built temporary sites in Beijing, the new airport terminal and expansion of the subway system. Other big projects not specifically tied to the Games include a $600 million Rem Koolhaas-designed television tower and a $336 million Paul Andreu-designed National Grand Theater.

The big winners among companies so far include the Shanghai-listed, state-owned Beijing Urban Construction Investment & Development Co. It has won at least four major projects totaling 395 million yuan, or $50 million, including the construction of the "bird's nest" National Stadium, the Olympic Village and the Olympic Park, according to state media. The bird's nest stadium was designed by Swiss firm Herzog & DeMeuron, through a joint venture with the China Architecture Design Institute.