As announced by the Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG), China Petrochemical (Sinopec) has been selected as the official petrochemical partner of the Beijing 2008 Olympic Games.

The company signed an agreement with the BOCOG yesterday to become the sixth partner of the 2008 Olympics Games.

"The decision was made after the BOCOG made a careful evaluation and overall review," said Wang Wei, BOCOG vice-president and secretary-general, at the signing ceremony. "We are looking forward to a friendly and reciprocal co-operation with Sinopec to do credit to both the Beijing Olympic Games in 2008 and the overall development of China's athletics."

According to the agreement, Sinopec will provide funds, refined petroleum products, petrochemical products, lubricants and related services to the Beijing 2008 Olympic Games and Paralympics, the BOCOG, the Chinese Olympic Committee and the Chinese delegation to the 2006 Turin Winter Olympic Games.

These products range widely from gasoline, gas oil and lubricants for cars and buses, aviation fuel for airlines, chemical fibers for sportswear to pitch for stadiums.

Zhang Jiaren, chief financial officer of Sinopec, said Sinopec plans to promote its globalization drive by sponsoring big international events such as the F-1 Chinese Grand Prix and the Olympics. He said the Olympics will help boost his company's image on the international market.

Even though Sinopec is selected as the exclusive partner in the petrochemical industry, Yuan Bin, vice-director of the BOCOG Marketing Department, did not rule out the possibility of including a potential partner in petroleum.

"The signing of BOCOG partners in other fields, such as petroleum, office facilities, insurance, logistics and sports suits, will continue to the end of this year and the selection of Beijing 2008 sponsors, the lower level of sponsorship, will begin starting next year," Yuan added.

(China Daily October 12, 2004)