This year's Fortune Global Forum 500, to be held here from May 16 to 18, has newly included two special roundtable meetings on sports and culture, according to a senior official of the Time Warner Corporation.

"A powerful sports boom is underway in China, which is particularly attractive for companies looking to build their brands with the country's enormous consumer population," said John Needham, a special adviser to the Time Warner Corporation.

Needham organized the 1999 Fortune Global Forum in Shanghai andis also the executive director of the sports roundtable meeting.

The 2008 Beijing Olympics is a major catalyst, and rapid development is also occurring in virtually every other sports sector.

"It is the time for sponsors to consider how to introduce their brands to this huge potential market," Needham said.

"More and more top international sports games are being staged in China, creating a great many business opportunities," he added.

The traditional pillars of sports marketing, including mass television viewership, sponsorships, and endorsement deals, are taking shape.

"This program will bring the leaders of sports in China together with experts from around the globe to discuss these fascinating changes and explore the opportunities they present for multinational companies," Needham added.

He unveiled some of the specific topics, such as "China's Emerging Sports Boom: Facts, Figures and Insights", "How China will Change the Olympic Movement" and "Sports Stars: Role Models for Society?"

Robert Bierman, executive director of Fortune magazine's conference division, added that multinational CEOs are looking forinsights that go beyond economics to explore local culture. "Without a good understanding of the underlying culture, how can you run a successful business in a foreign country?"

The culture roundtable meeting will also look in detail at the evolving role of the media, the move to megacities, education, the emerging affluent class and the luxury market.

Other topics such as "Understanding China's Capital Market", "Energy: Finding Fuel for Continued Economic Growth" and "Intellectual Property: More Turmoil or Mutual Understanding", willbe covered at the three-day forum.

"The forum will help the world know China better, especially after the third anniversary of China's entry to the WTO," said Jiang Weiqiang, an official from the State Council Information Office.

Source: Xinhua