Streets filled with cheering crowds had quieted down, but exuberance remained Saturday in Beijing, a day after the city was crowned the site of the 2008 Olympic Games.

"Yesterday, our hearts were in our throats. How can we not be happy today?" said Chang Hai, 28, a manager at an appliance store near the site of the planned Olympic village on the city's northern outskirts.

The shop cut prices 10 percent to celebrate the winning bid, as the city recovered from its revelry.

"Businesses all over will increase a hundredfold. We will surprise the world in 2008. It will be a happy day," Chang said.

Beijing was picked over four rivals — Toronto, Paris, Istanbul, Turkey and Osaka, Japan. The decision marked a comeback for the city of 8 million, which lost the 2000 Olympics to Sydney by two votes.

"This is a realization of a lot of hard work and planning. As a Chinese, it's a very historic moment for me," said Li Hao, 24, a doctor who was walking through Tiananmen Square, where hundreds of thousands of people gathered on Friday in raucous celebration.

Beijing was swept clean by Saturday of the lion dancers, special edition newspapers, streamers, red flags and banners that added to Friday's festivities. Scores of people milled around the nation's most famous gathering place, taking photos and basking in the afternoon sun.

"We tried rushing here last night to make it for the celebrations, but we were too late," said 20-year-old Zheng Liwei, who arrived from the southern province of Guangdong close to midnight. "This is so good for China. It used to just be a big country. Now it's a strong country."

President Jiang Zemin received a congratulatory message Saturday from his South Korean counterpart, Kim Dae-jung, whose country was host to the 1988 Summer Games.

"I hope that China will help develop its economy and promote world peace by successfully hosting the Summer Olympics," Kim said.

In Hong Kong, hundreds of people lined up at post offices to buy commemorative stamps collectively issued by Beijing, Macau and Hong Kong. The Chinese central bank said it would issue a special silver coin to mark the occasion.

Both English and Chinese-language newspapers in Hong Kong ran huge headlines proclaiming "Beijing wins" or "We win" with pictures of fireworks and euphoric crowds in the Chinese capital.

"Our hearts were so moved yesterday. This will bring good luck to us," said Xian Weili, 20, a clothing store employee.

Some suggested that China will be prompted to improve its human rights record, which has been under severe scrutiny.

The Chinese-language paper Ming Pao said it hoped to see a "more open and freer" Beijing in seven years and that the Chinese government would honor its pledge to improve freedom of the press.

"If abuses take place as preparations for the Games proceed, it won't be just the Chinese authorities who look bad — the IOC and the corporate sponsors will be complicit," said Sidney Jones of the New York-based Human Rights Watch.

Beijing has promised to spend more than $20 billion to widen roads, clean up its smoggy skies and build stadiums and the Olympic village. While many said the improvements will lead to a stronger economy, it also means the end of some residents' livelihood.

"How would being angry help?" asked a restaurant owner whose business in the Embassy District is to be torn down for the Games. "I may be in debt because of this but it's a good thing for China."

The Associated Press contributed to this report.