After meeting Australian business leaders and discussing trade growth, the president tours Sydney's Olympic venues President Hu Jintao visited Sydney's state-of-the-art Olympic complex yesterday, drawing lessons that could help Beijing stage a successful Olympic Games in 2008. On day two of his four-day visit to Australia, Mr Hu said he was impressed with how Sydney hosted the 2000 Olympics, which were declared 'the best ever' by the International Olympic Committee. 'The proud name of this city has become closely associated with the Olympic spirit and has been recorded in history,' he said. Mr Hu travelled to Olympic Park, about 10km west of the city centre, by ferry. He was given a tour of the purpose-built complex of stadiums, hotels and landscaped parks by New South Wales Premier Bob Carr, who received much of the credit for the 2000 Games' success. The sprawling Olympic precinct was built on budget and ahead of schedule. Mr Carr said the awarding of the 2008 Olympics to China was 'another symbol of China's emergence as a full and honoured participant in global affairs'. He said Mr Hu was 'very well briefed ... it confirms that they [the Chinese] are very well advanced in their Olympic planning and their Games will be a great success'. Earlier, Mr Hu attended a state lunch and then met business leaders eager to negotiate contracts ahead of the Beijing Olympics. Australian architecture and engineering firms have already secured contracts to build venues for the 2008 Games. The government's trade and investment arm, Austrade, hopes Australian companies will secure A$3 billion (HK$16.2 billion) worth of business. Richard Woolcott, a former head of Australia's Department of Foreign Affairs and Trade and a founding director of the Asia Society in Australia, said Mr Hu identified several areas in which Sino-Australian trade could expand, including energy and resources and development of China's regions. Bob Mansfield, chairman of Australian telecom giant Telstra, said the company had been investing in China since 1988 and was advising the Beijing Olympic Committee on telecommunications for the Games. 'The president was very direct about encouraging opportunities between the two countries, and it was an outstanding opportunity to hear about it from the leader of China,' Mr Mansfield said. 'We treated it as a real privilege. We look forward to a long-term relationship of mutual benefit.' Warwick Smith, a former government minister who is now chairman of the Australia-China Business Council, predicted that within five years, China would oust Japan and the United States as Australia's largest trading partner. '[Trade] will be made up of minerals, tourism and education, so it will be quite diverse. It is happening - and happening at a very rapid rate,' he said. Mr Hu flew to Canberra last night and will today become the first Asian leader to address a joint sitting of the Australian parliament, one day after US President George W. Bush was accorded the same honour. Mr Hu is also expected to sign an accord which could pave the way for a free-trade agreement with Australia.