A strategic international business marketing and partnering initiative for the Beijing 2008 Olympic Games was officially launched on Friday.

Entitled China Access 2008, the program aims to help China realize the unique economic development opportunities offered by Beijing's hosting and staging of the world's largest sporting event, said Andrew Gilkes, executive director of China Access 2008.

The program will involve hosting approximately 80 high-profile business forums in Europe, North America, Asia and Australia, inviting up to 20 "reciprocal" investment and business partnering missions to China, holding a raft of business activities in key Chinese cities, and briefing around 4,000 top managerial staff of foreign companies on available opportunities.

It will also provide tangible strategic positioning and practical and professional consulting services for China Access 2008's participants and business partners.

"The program intends to introduce US$1 billion of foreign direct investment (FDI) for the 2008 Olympic Games, focusing on bio-technology, IT, telecommunications, electronics, energy and environmental protection, and the new materials sectors," Qiu Shuiping, director-general of the Beijing Investment Promotion Bureau, told a press conference on Friday.

The bureau is the official government partner of China Access 2008.

It is set to enable some 100 local high-tech enterprises to become more global by facilitating international partnering opportunities.

The program is run by a venture sponsored by eight transnational banks.

The venture draws directly on the experience gained from Investment 2000, involved in the Sydney 2000 Games.

Official statistics show that, during the Sydney 2000 Olympic Games, US$520 million was generated by Investment 2000, which targeted 2,000 offshore companies, delivered 50 briefings, attracted 300 inbound visitors and created 1,000 job opportunities.

(China Daily December 18, 2004)