London woos Chinese investment in 2012 Olympics

Impressed by Beijing Olympics, London, host of the 2012 Games, will woo Chinese firms for investment in the British capital's massive expansion plans.  

Think London, a investment agency for the city, is ready to kick off a road show in 11 cities across China, to encourage Chinese enterprises to bid for business opportunities in the run-up to the London Olympics, a senior official from the company said.  

"We want to learn from what Beijing has done, and also from the Chinese companies who successfully supported the Beijing Organising Committee for the Olympic Games," Michael Charlton, chief executive of Think London, said.  

"We believe the experience of Chinese companies serving the Beijing Games will give them a head start in bidding for the opportunities in the 2012 Games," Charlton was quoted as saying by China Daily.  

"Think London's goal is to encourage as many Chinese companies to choose London as their gateway to globalisation. London already receives more Chinese investment than any other city in Europe," he said.  

Charlton said a Chinese company making souvenir pins has already won the contract from London Olympic Organising Committee.

And the contract for land remediation was awarded to a Dutch company.  

"We will visit Chinese construction, technology, software companies and so on to encourage them to bid for the opportunities connected with the 2012 Games," he said.         

He noted that London's economy is expected to grow by $80 billion from now to 2012, and the Olympics and Paralympics will contribute 10 per cent to it.