Rio Olympics expects more Chinese investments amid crisis

Updated: 2016-05-02 04:35

By JI YE in Rio de Janeiro for China Daily(China Daily Latin America)

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Rio Olympics expects more Chinese investments amid crisis

Song Yang (right), China’s general consular to Rio de Janeiro, and Rio Mayor Eduardo Paes greet each other at a meeting on April 27, which marked the 100-day countdown to the start of the Rio Olympics. Provided to China Daily

The Rio Olympics expects more Chinese firms to invest and sponsor the games amid political and economic trouble in Brazil.

On April 27, which marked the 100-day countdown to the start of the games, Rio de Janeiro Mayor Eduardo Paes welcomed more support and investment from China at a meeting with Song Yang, China’s consul general to Rio.

"China has always been a trusted and key partner of Brazil. Beijing has many successful experiences from which Rio can learn. The Rio Olympics is an event drawing worldwide attention and Brazil is overcoming difficulties to meet the challenges," said Paes. "Brazil welcomes Chinese companies and financial institutions to support Rio, seizing the Olympic opportunity in such a great sports event."

Sidney Levy, Rio 2016 Committee CEO, and Ana Paula Pessoa, Rio 2016 Committee executive director of finance, also expressed the same opinions at the meeting.

Levy and Ana introduced the Rio Olympics sponsorships and said that they hoped Chinese companies in the fields of oil and gas, electricity, mining and agriculture will join in the sponsorships. They said the games would be a boon to Chinese companies exploring overseas markets.

Brazil’s economy is in steep decline for the second straight year, with unemployment increasing to 10.2 percent. Olympic organizers have had to slash budgets, causing fears of embarrassing delays in preparations for the Games.

Despite Brazil's economic and political turmoil, slow Olympic ticket sales and delays at some Olympic venues, Paes said at a press conference on April 27 that he was optimistic.

"We arrived at this moment in a way many doubted we could," he said. "There are some details and issues to be addressed, problems we saw in the test-events. But things are going well in the preparations."

With China having hosted the 2008 Beijing Olympic and Paralympic games, many Chinese companies with Olympic experience are eager to participate in the Rio Games. Amid the economic crisis in Brazil, Chinese companies have been playing an important role in the Games.

Beijing Huajiang Culture Development Co Ltd, known as Honav, the licensee of lapel pins for the Beijing 2008 and London 2012 Olympics, is the licensed manufacturer and vendor for both mascots of the Rio Olympics and the Paralympics, as well as the official pins for the games.

Chinese sportswear company 361° became the official uniform supplier for the games, agreeing to provide more than 106,500 uniforms to technical staff, volunteers, test-event personnel and torch relay participants.

Other Chinese companies are involved in the run-up to the games. At the construction site of the main Olympic stadium, a variety of heavy machinery from Chinese companies Sany, XCMG and Zoomlion are in use.

During 2014 FIFA Brazil World Cup, China's Nuctech provided nine of the 12 stadiums with security inspection equipment. Nuctech is preparing to bid for the security services for the Rio Games.

"Compared with the World Cup, our equipment has better quality and can meet the standards set by the organizers," said Nuctech Brazil Vice-President Yu Ping.

Gree, China's top manufacturer of air condition equipment, provided support during the Word Cup and has won the bidding for services to hotels and the Rio airport for the Olympics.

Gree has been among the first Chinese companies to set up factories in Brazil. After dozens of years of development, it is now one of the top-three air condition producers in Brazil.

In transportation, the 100 high-speed subway trains produced by Changchun Railway Vehicles Co were completed in Changchun, Jilin province last month. They will be in service for the Rio Olympics. It will mark the first time that a Chinese train maker has taken part in an Olympic transportation system outside of China.

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