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Chinese companies reaping rewards from sponsorship deals

Reporter: Zheng Chunying 丨 CCTV.com

08-20-2016 05:04 BJT

Full coverage: 2016 Rio Olympics

Well, sticking with the Olympics now and over the past few years, many Chinese companies have managed to promote their brands and gained more popularity through sponsoring deals at the Games. Midea Group is just one of many Chinese companies that has a presence in Rio and is hoping to broaden its appeal outside China's borders.

Where the Olympics go, big-ticket sponsorships and marketing deals inevitably follow. 

Midea Group, a Chinese electrical appliance manufacturer, has bagged the deal to supply air conditioning systems for many competition venues.

Yang Peixing, who has been working in the air conditioning industry for over ten years, is in charge of the project.

"We have installed over seventy VRF air conditioning systems and more than ten water systems in the basketball stadium. Midea's winning bid for this project was around 100 million RMB," said Yang Peixing, engineer of Midea Group.

For Midea, a sponsorship deal at the Olympics is a great honor, but the task in Rio never seems easy.

"Rio is a coastal city, and suffers from severe corrosive effects from sea salts, so when we took on this project, we invested a lot of effort in anti-corrosion precautions for our products," said Yang Peixing.

During the Games, many local workers also joined Yang and his colleagues to help out with the project.

However, with such a huge investment needed, how much will the company actually profit from the project?

Chinese brewery Tsingtao is an example - it reported that half-year profits jumped 42 per cent boosted by the extra publicity from its sponsorship deal at the 2008 Beijing Olympics.

The Olympic sponsorship bid is still paying dividends to tech company Lenovo, which was one of the partners from the 2004 Games. 

Their involvement with the Games greatly helped the company expand five-fold in the market scale.

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