Bank of China is first domestic sponsor for Beijing 2022
The organising committee for the 2022 winter Olympic Games in Beijing today signed up its first domestic sponsor in the shape of Bank of China.
The bank, which was a sponsor of the Beijing 2008 summer games, becomes an official partner (tier one of the marketing programme) of Beijing 2022.
Beijing 2022 launched its marketing programme in February, noting at the time that prospective official partners must be "industry-leading... with considerable strength, powerful operational and financial status," and "must have good social image and corporate reputation, and its brand image must match the concept of the Beijing 2022 Games. Its products must satisfy the requirements of low carbon, environmental protection and sustainable development."
After banking, Beijing 2022 is expected to target leading brands in the sportswear, dairy, insurance, airline, fixed telecommunications operation services, mobile telecoms and general office services sectors.
At today's signing ceremony in the capital, acting mayor Chen Ji’ning, who is also executive president of Beijing 2022, said: "The Olympic and Paralympic Winter Games Beijing 2022 will be a milestone event in China’s history, and is of far-reaching significance to exhibiting China’s image, promoting the country’s development and upgrading the national spirit."
Tian Guoli, chairman of the board of directors at Bank of China, added: "As the official partner for Beijing 2022, the BOC will carry forward the Olympism, help disseminate the vision of the Games, provide the broadest and most reliable high-quality banking services, and promote the popularity of winter sports."
Beijing 2022's three-part programme comprises sponsorship, licensing and ticketing. Sponsorship is divided into four categories: tier-one, official partner; tier-two, official sponsor; tier-three, official exclusive supplier; and tier-four, official supplier.
Beijing 2008 generated about $1.2 billion in revenue, and it was widely considered that the city's greater economic clout, along with the purchasing power of Chinese consumers, helped it to narrowly see off the challenge of Almaty in Kazakhstan to be awarded the 2022 winter games in late July 2015.
Indeed, in the city's presentation to IOC members prior to the host city vote, Liu Yandong, the vice-premier of China, said: "Today, winter sports have become increasingly popular among Chinese people. Hosting the 2022 games will encourage 300 million Chinese to participate in ice and snow sports. Together, we will promote winter sports in world’s most populous country.
"The winter sports industry in China is still at the very beginning, it is a long journey. Our estimation is that by 2025, the sports industry [in China] will be worth around $800 billion. With that in mind, we have full confidence that we'll have no problem meeting our sponsorship revenue targets for the Olympics."
Earlier this year, Alibaba, the Chinese e-commerce giant, signed up as the 13th top-tier ‘TOP’ sponsor of the IOC until 2028. Alibaba becomes the official cloud services and e-commerce platform services partner, as well as a founding partner of the Olympic Channel.