BOC helps power Olympics

In July 2004, Bank of China (BOC) announced it would be the official banking partner of the Beijing 2008 Olympic and Paralympic Games.

Over the past four years, the bank made a range of Olympic-marketing moves that fully covered its sponsorship costs by July 2008.

Revenues came through fees on credit cards, interest income and the sale of officially licensed merchandise.

The Olympic Games also accelerated product innovation at this bank. It has developed more than 10 new financial products, including issuing more than 2 million Olympic credit cards.

Olympic deposit books, Olympic Fuwa deposits and many other Olympic-themed financial products have been launched.

According to bank statistics, in the first half year, revenue of its 700 Beijing Olympic franchise outlets totaled 4.5 billion yuan.

TV audiences have been impressed by BOC Olympic visa card advertisements with superstars Jackie Chan and Yao Ming. Yet, they are just a small part of BOC's marketing activities.

BOC has spread the Olympic spirit at home and abroad, while building a strong brand image to attract more customers.

As the exclusive bank providing State educational loans, BOC launched Olympic promotions among university students.

Since 2006, the bank has held contests and forums on Olympic knowledge and etiquette. Ten students who distinguished themselves in Olympics forums sponsored by BOC joined a program on August 4 and 5 to talk with leaders including Henry Kissinger, former US secretary of state, and Juan Antonio Samaranch, former president of International Olympics Committee.

BOC has also emphasized friendship among teenagers in its marketing.

In the summer of 2006, the bank organized a summer camp titled "Grow up with the Olympics". Through the activity, children from across the country gathered in Beijing to visit the Olympic venues. They met Yang Yang, China's first Winter Olympic gold medalist.

In February 2008, BOC and Hong Kong's Wen Wei Po newspaper jointly held an Olympic animation contest that involved teenagers from the Chinese mainland, Hong Kong and Macao. The contest had strong participation with 12,000 works received in three months. Famed painters Ji Mi and Huang Yulang served as contest judges.

During the period of Olympic Games, visitors from home and abroad can see selected works from the contest at BOC's exhibition in the Olympic Park.

Responsibility

In December 2005, a BOC Olympic festival debuted in Shanghai with the participation of 10,000 locals dressed in special uniforms.

In April 2006, a team of thousands joined an event at the National Olympic Sports Center.

On China's 2006 national day for assisting disabled persons, the third Sunday of May, BOC invited Olympic ambassador and former gymnast Sang Lan to share her Olympic spirit and dreams with the handicapped in Tianjin.

At the 1998 Goodwill Games in New York, Sang broke her neck making a practice vault and is confined to a wheelchair. To support handicapped in sports events, the bank made donations to the Tianjin Welfare Fund for the handicapped.

In July of 2006, a BOC Olympic festival kicked off in Hangzhou, Zhejiang province, with the theme of "Century-old Olympics and century-old BOC".

With an efficient global network, BOC also offered a convenient channel for the overseas Chinese to contribute to the Olympics.

So far through BOC's network, donations for construction of Water Cube totaled more than 1 billion yuan. BOC also offered a 23.5 billion yuan loan to support construction of Olympics-related projects, including subway line 10 and Terminal 3 of Beijing Capital International Airport.

Sports first

Even as a partner of the Beijing 2008 Olympic Games, BOC has supported a series of other world-class sports events.

The bank provided financial services for the Chinese athletes in the 2006 Torino Winter Olympics. The famous short-track skater Yang Yang was also appointed as an image ambassador for the bank.

BOC was also the sole title sponsor of the 2006 World Cup Gymnastics Competition.

The bank sponsored the Women's Fast Pitch World Championship and became the sole financial service partner of 42 "Good Luck Beijing" sports events.

On July 26, 2007, BOC signed an agreement to support the national badminton team and began a variety of campaigns to encourage people to join in fitness activities and play badminton.

Torch relay

"Sparking a dream and succeeding in excellence" was the theme of BOC's marketing activities for the Olympic torch relay.

As the official sponsor of Olympic torch relay, the bank supported its journey with capital and marketing.

BOC assured the financial security of the Olympic torch relay by providing fund clearance, cash management and other financial services to the organizing committee.

BOC's overseas branches also played an active role in the global journey of Olympic torch relay. In the cities the torch passed, branches organized welcoming events.

In the past four years, through promoting Olympic knowledge, starting exercise activities and spreading the Olympic message, BOC has sparked people's passion for the Games while making its brand more familiar and friendly to the public.

Serving the Beijing 2008 Olympic Games will help Bank of China reach international standards, improve its products and services, raise its service quality and management level, fully display its brand image and corporate culture, and make it the most globalized, said Zhang Yanling, executive vice-president of the bank.

(China Daily 08/05/2008 page25)