An abundance of gold awaits the return of Olympic medal winners
Source: Agencies |
August 11, 2012, Saturday
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Print Edition
Print Edition
CHINA won't just be showering its athletes with praise for bringing home an Olympic medal. Cash will also rain down on the champions who bring glory to the nation.
The central government paid their athletes a 350,000 yuan (US$54,900) bonus for winning gold at the Beijing Games, an increase of 150,000 yuan from Athens in 2004, and is expected to trump that for those who top the podium in London.
The nation's sports administration has yet to say exactly how much will be given out, but have denied reports of a 500,000 yuan bonanza.
Whatever the amount, it will be only a fraction of the potential windfall for athletes given that their home provinces and towns also feel compelled to shell out.
"The rewards for the Beijing Games were particularly generous," said Fan Ye, former world champion gymnast and 2004 Olympian. "Some athletes got 6-7 million yuan if they won two golds."
She added: "The provinces always compete with each other. If Guangdong says it would give so much, Zhejiang would want to offer more as they think they're richer."
Like other countries' Olympic champions, Chinese athletes can expect new sponsorship deals.
But many will already have pocketed a small fortune from the state for bringing prestige to their home towns and provinces.
Shaanxi Province has promised their athletes 600,000 yuan for every gold they bring back from London, state media reported.
Two-time Olympic champion diver Qin Kai, who trained in Xi'an, Shaanxi's provincial capital, can expect to cash in after he won the 3-meter synchronised springboard gold with partner Luo Yutong. He also stands to collect another 300,000 yuan for taking silver in the individual 3-meter springboard.
Yichang, a bustling port city on China's Yangtze River near the Three Gorges Dam, has tripled its bonuses from 100,000 yuan to 300,000 yuan for Olympic champions.
That's good news for hometown girl Zhao Yunlei, who won a mixed doubles badminton gold at the Wembley Arena last week and another in the women's doubles.
The practice of cash rewards for the athletes dates back to China's return to the Olympics program at the 1984 Los Angeles Games. Sports authorities gave shooter Xu Haifeng 9,000 yuan for winning gold there, a lot of money in those days.
However, Xu Guoqi, author of "Olympic Dreams: China and Sports, 1895-2008," says the cash-giving culture shows a lack of imagination.
"Governments, organizations and people are cynical and less creative in figuring out other ways to show appreciation to good deeds," he says. "The only effective method is to provide financial rewards."
The central government paid their athletes a 350,000 yuan (US$54,900) bonus for winning gold at the Beijing Games, an increase of 150,000 yuan from Athens in 2004, and is expected to trump that for those who top the podium in London.
The nation's sports administration has yet to say exactly how much will be given out, but have denied reports of a 500,000 yuan bonanza.
Whatever the amount, it will be only a fraction of the potential windfall for athletes given that their home provinces and towns also feel compelled to shell out.
"The rewards for the Beijing Games were particularly generous," said Fan Ye, former world champion gymnast and 2004 Olympian. "Some athletes got 6-7 million yuan if they won two golds."
She added: "The provinces always compete with each other. If Guangdong says it would give so much, Zhejiang would want to offer more as they think they're richer."
Like other countries' Olympic champions, Chinese athletes can expect new sponsorship deals.
But many will already have pocketed a small fortune from the state for bringing prestige to their home towns and provinces.
Shaanxi Province has promised their athletes 600,000 yuan for every gold they bring back from London, state media reported.
Two-time Olympic champion diver Qin Kai, who trained in Xi'an, Shaanxi's provincial capital, can expect to cash in after he won the 3-meter synchronised springboard gold with partner Luo Yutong. He also stands to collect another 300,000 yuan for taking silver in the individual 3-meter springboard.
Yichang, a bustling port city on China's Yangtze River near the Three Gorges Dam, has tripled its bonuses from 100,000 yuan to 300,000 yuan for Olympic champions.
That's good news for hometown girl Zhao Yunlei, who won a mixed doubles badminton gold at the Wembley Arena last week and another in the women's doubles.
The practice of cash rewards for the athletes dates back to China's return to the Olympics program at the 1984 Los Angeles Games. Sports authorities gave shooter Xu Haifeng 9,000 yuan for winning gold there, a lot of money in those days.
However, Xu Guoqi, author of "Olympic Dreams: China and Sports, 1895-2008," says the cash-giving culture shows a lack of imagination.
"Governments, organizations and people are cynical and less creative in figuring out other ways to show appreciation to good deeds," he says. "The only effective method is to provide financial rewards."
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