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What Is Olympic Gold Worth?

The Athens Olympics attracted a record 10,500 top athletes as countries all around the world continued to strengthen their competitiveness. Individual athletes found themselves facing unprecedented challenges as they pursued their dreams of gold.

 

Against this background, China's General Administration of Sports had promised rewards of up to 200,000 yuan (about US$24,000) for gold, US$14,000 for silver and US$9,700 for bronze medalists.

 

With competition intensifying, some gold medals will be more highly rewarded due to the importance of the events to the development of particular sports in China. Gold medals in track and field events and in swimming and tennis have been particularly rewarding.

 

Duan Shijie, vice president of the Chinese delegation said, "The country will give rich rewards to trail-breaking gold winners. This is because their success in breaking into new events will stimulate development in sports in which the country has not been traditionally strong. So of course, athletes like Luo Xuejuan (gold in women's 100m breaststroke), and Li Ting and Sun Tiantian (gold in women's tennis doubles), will be particularly well rewarded."

 

Apart from the rewards given at national level, the returning sports heroes can also look forward to cash bonuses from their individual provinces and municipalities. For instance at the provincial level, Yunnan is giving US$180,000 for a gold medal, in Guangdong the figure is US$30,000, in Sichuan US$60,000, and in Shaanxi US$120,000. In order to promote physical culture, Shanghai promised US$60,000, US$145,000 and US$217,000 to its medalists bringing back one, two and three golds respectively. And there's more for since the Los Angeles Olympics in 1984, the Fok Ying Tung Sports Foundation has consistently given generous awards to China's Olympic Gold Medalists, currently a full kilogram of pure gold plus US$80,000 in cash.

 

The eventual financial benefits coming to a gold winner will amount to even more than these generous bonuses. Many domestic enterprises, companies and individual business-people have shown their willingness to encourage the athletes with gifts of villas and automobiles. Then there are the advertisements and product endorsements that can boost earnings several times over.

 

Take Liu Xiang, China's hurdling star who finished first in the 110-meters hurdles, matching the world record time of 12.91 seconds. He was given the honor of carrying China's flag at the close of the Athens Games. His total earnings may well exceed 5 million yuan or US$604,000 from his precious gold medal.

 

The final tally is not yet on the record, but here are some of the rewards already confirmed for the gold medallists: 

Name

Sports Event

State (US$)

Province and Municipality (US$)

Fok Ying Tung Foundation (US$)

Extra Bonus

Total Value (US$)

Meng Guanliang and Yang Wenjun

Canoeing

24,150

 

80,000

US$129,000 from the National Aquatic Sports Center

363,000

Zhu Qinan

Shooting

24,150

36,000-54,000

80,000

US$36000 from Wenzhou-based enterprises

242,000

Shi Zhiyong

Weightlifting

24,150

60,411

80,000

 

181,000

Wang Yifu

Shooting

24,150

 

80,000

A Zhonghua saloon car

 

Tian Liang

Diving

24,150

120,822

80,000

 

242,000

Yang Jinghui

Diving

24,150

66,452

80,000

An apartment worth US$120,822

302,000

Du Li

Shooting

24,150

60,411

80,000

 

 

Tang Gonghong

Weightlifting

24,150

75,000

80,000

US$24,165 from a land agent in Dalian City

242,000

Liu Chunhong

Weightlifting

24,150

60,411

80,000

 

157,000

Guo Jingjing      (two golds)

Diving

48,300

60,411

80,000

An apartment worth US$96,600

302,000

Zhang Ning

Badminton

24,150

 

80,000

A Zhonghua saloon car

 

Zhang Jiewen

Badminton

24,150

30,205

80,000

 

121,000

Yang Wei

Badminton

24,150

30,205

80,000

 

121,000

Zhang Guozheng

Weightlifting

24,150

181,234

80,000

 

302,000

Chen Yanqing

Weightlifting

24,150

24,165

80,000

 

121,000

Zhang Jun

Badminton

24,150

12,082

80,000

 

109,000

Chen Qi

Table Tennis

24,150

12,082

80,000

 

109,000

 (China.org.cn by Li Xiao, September 6, 2004)

 

 

Liu Xiang in Good Form, Johnson Crashes out
Li/Sun Win Historic Gold for China in Tennis
Luo Xuejuan Wins Women's 100m Breaststroke Gold
Games Gold Worth More Than Its Weight in Cash
China Considers Raising Bonus for Olympic Medal Winners
Athens Olympics 2004
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