The Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG) announced Wednesday that it has chosen the Bank of China (BOC) as the official banking partner of the Beijing 2008 Olympic Games.

The bank will join Lenovo, China's largest computer maker, and Volkswagen Group China as a major sponsor of the Games. Lenovo joined the Olympic Partner (TOP) program in March and Volkswagen last month.

As the banking partner, the BOC will provide capital, banking products and related services for the Beijing 2008 Olympic Games, the Beijing 2008 Paralympic Games, BOCOG, the Chinese Olympic Committee (COC), as well as Chinese Olympic contingents for the 2006 Winter Olympic Games and the 2008 Olympic Games.

"Serving the Beijing 2008 Olympic Games will push us to catch up to the leading international standards, to improve our products and services, to raise our service quality and management level and to fully display our brand name and corporate culture," said Hua Qingshan, vice president of the BOC.

"We will become stronger through competition and develop steadily amidst the challenges."

Yuan Bin, vice-director of BOCOG marketing department, said the BOC will enjoy the rights and interests that go with being an Olympic sponsor.

These include the use of BOCOG and/or COC marks and designations for advertising and marketing; marketing rights of retail banking and investment banking products and services; hospitality opportunities at the Olympic Games, including accommodation, accreditation, tickets for opening and closing ceremonies and competition events, sponsor hospitality village and other facilities; preferred option to purchase TV ad space and billboards during the Games period; preferred option to purchase sponsoring opportunities of cultural programs and signature events such as the Olympic torch relay.

"The ultimate goal is a win-win situation for both BOCOG and our partners," said Yuan.

(China Daily July 15, 2004)