Bank of China, one of the oldest banking institutions in the country, was announced the official banking partner of the Beijing 2008 Olympic Games when BOCOG and the bank signs a banking partner sponsorship agreement in Beijing today.
The decision was made after BOOCG had made careful evaluation and overall review. At the signing ceremony, BOCOG Vice-President Jiang Xiaoyu congratulated Bank of China (BOC) on its becoming a partner with the Beijing 2008 Olympic Games.
"To ensure the success of an Olympic Games, one important experience is to attract the participation of enterprises through marketing plan so as to meet the Olympic Games' requirements for capital, logistics and services," Jiang said.
"We are looking forward to the sincere, friendly and reciprocal cooperation with BOC to do credits to both the Beijing 2008 Olympic Games and China's sports," Jiang added.
"Serving the Beijing 2008 Olympic Games will push us to catch up with the leading international standards, to improve our products and services, to raise our service quality and management level, and to fully display our brand names and corporate culture," Xiao Gang, Chairman and President of the BOC, said at the ceremony.
"We will become stronger through competitions and develop steadily amidst the challenges," Xiao noted.
In line with the agreement, BOC will provide sufficient capital, manifold banking products and related services to the Beijing 2008 Olympic Games, the Beijing 2008 Paralympics, the Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG), the Chinese Olympic Committee (COC) and the Chinese delegations to the Olympic Games in the coming five years.
In return, BOC is entitled to enjoy corresponding rights and interests. These include the use of BOCOG and/or COC marks, designations for the purposes of 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 programmes and signature events such as the Olympic torch relay.
As a longest-serving commercial bank in China, BOC has human resources up to international standards and a worldwide branching network. The scope of its business covers those of a commercial bank, an investment bank and an insurance company. It has been ranked as one of the Fortune 500 for 14 consecutive years.
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