The year 2008 may seem like a long way away, but commercial enterprises know that now is the time to line up for sponsorship of Beijing's Olympic Games.

It's the moment China has been dreaming about for years. It's a time of national pride and celebration and also a time of opportunity. Many international companies see the 2008 Olympics as a chance to earn huge profits. Even though the big event is nearly seven years away, a number of leading international companies including Coca－Cola, Kodak and Swatch have already signed up to sponsor the games. Other international organizations are also looking at getting involved.

Johan Bjorksten, general manager of Swedish Chamber of Commerce, said, The Olympics are an enormous economic machine. There are more people watching it than any other event, which means media and money that's going into it is big."

Apart from being an active member in the EU Chamber of Commerce, Mr. Bjorkstein also runs his own public relations company. He says he sees business potential in that field as well.

Bjorksten said, "No doubt companies that are coming to take part in Olympics want to be exposedthey want their brands to be exposed and their thinking about Chinese market to be understood by Chinese people. All that is about communication. I see Olympics as mostly sport, but definitely secondly communications."

It's quieter on the domestic scene where marketing campaigns haven't yet started. But a few Chinese companies are looking ahead.

Wang Li, marketing director from Beijing Li－Ning Sports Goods Co.,Ltd., said, "The 2008 Olympics represents an opportunity for us. In fact, it is an opportunity for all companies in the trade. Therefore we have to make a lot of efforts although the games are still about six years away. "

The Beijing Li Ning Sports Goods Company was set up by China's veteran gold－medal gymnast, Li Ning. He capitalized on his medals by marketing a range of sportswear. He hopes his 10 years of experience in this field will help him in the bidding stakes.

The official bidding for rights to use the Olympic logos and to sell genuine articles will begin early next year. Until then, none of the companies involved has any preferential status. But the race to win the rights to use the famous five rings has already started.

(CCTV March 11, 2002)