Beijing Olympic Preparations are Big Business

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Last updated at: (Beijing Time) Tuesday, January 28, 2003

Beijing Olympic Preparations are Big Business

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Big business is fused with anticipation at the prospect of the largest marketing event ever taking place in the world's most populous nation, as preparations for the 2008 Olympic Games in Beijing go into full swing.

Secretary of Beijing Municipal Committee of the Chinese Communist Party Liu Qi Monday encouraged enterprises, especially domestic firms, to net the opportunities and profits to be made from the games and establish themselves as world brand names.

Liu made his remarks at a forum of 500-plus companies, aimed at promoting an eye-catching, national Olympic marketing programme.

The Olympic Games provide much more than a sports arena - it is also a commercial battlefield for international multinationals.

At present, world famous conglomerates like Kodak, Coca-Cola and Samsung have signed agreements for Beijing's 2008 Olympics, said Liu.

Hundreds of other domestic and foreign firms, from construction companies and environmental consultants, to sports brands and soft drinks manufacturers, are waiting in the wings for a piece of the multi-billion dollar Olympic pie.

Lin Zongtang, director of the Chinese Brands Promotion Office under the Beijing Organizing Committee for the 2008 Olympic Games, said the capital's hosting of the Games would bring tremendous business opportunities.

He said domestic companies, from a variety of industries, should take advantage of the opportunities on offer, to speed up their innovation and development drives.

China's Olympics promises unprecedented access to hundreds of millions of consumers and lucrative construction contracts, as Beijing embarks on a multi-billion dollar infrastructure spending spree.

Lin appealed for domestic firms to adopt a varied brand name strategy to burnish and upgrade their image in the world. He said he would like to see some 30 to 50 multinationals emerge in China in the next five years, as a direct result of the nation being selected to host the world's biggest sports gathering.

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