Sports: Rio Olympics expects more Chinese investment

(From Xinhua)

The Rio Olympics, which will kick off in 100 days, expects more Chinese firms to invest and sponsor amid political and economic troubles in Brazil. In Wednesday’s meeting with Song Yang, Chinese Consul General to Rio, the city mayor Eduardo Paes welcomes more support and investment from China.


Rio Olympics is drawing worldwide attention and China’s investments is helping.

“China has always been a trusted and key partner of Brazil. Beijing has many successful experiences which are worth for Rio to learn. 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 Olympic opportunity in such a great sports event.”

Sidney Levy, Rio 2016 Committee Chief Executive Officer, 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 sponsorship mechanism and hoped Chinese companies in fields of oil and gas, electricity, minng, agriculture to join in sponsorship of the Olympics. They believed the Games would be a boon to Chinese companies exploring overseas markets, especially in Brazil.

Brazil’s economy is in steep decline for the second straight year, meanwhile Brazilian unemployment has shot up to 10.2 percent. Olympic organizers have had to slash budgets, fueling fears of embarrassing delays. Read More

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