Corporate networking does not come bigger than 'sporting Davos'

For the chief executives pouring into Beijing, the Olympics is all about slurping champagne, chomping canapes and impressing corporate guests. Corporate schmoozing does not come much bigger than at the Games, which Sir Martin Sorrell, chief executive of advertising conglomerate WPP Group, has likened to a 'sporting Davos'- a reference to the World Economic Forum held in the Swiss ski resort every January.

Just like that gathering of the world's top 1,000 chief executives, Beijing will be hosting some of the biggest names in global business in the next three weeks - a long-awaited opportunity for the capital to show off its glitzier side.

Among the corporate glitterati networking at the 'Bird's Nest' will be Microsoft chairman Bill Gates and News Corp's Rupert Murdoch.

Also at the top of the list are the chiefs from Olympic sponsors, such as Coca-Cola's Muhtar Kent, adidas' Herbert Hainer, McDonald's Jim Skinner, Volkswagen's Martin Winterkorn and General Electric's Jeffrey Immelt. Other chief executives expected are BP's Tony Hayward, General Motors' Rick Wagoner, Motorola's Greg Brown and Yahoo's Jerry Yang. Wal-Mart's H. Lee Scott Jnr may find time to clink glasses with Sir Terry Leahy, head of his British rival Tesco.

HSBC chairman Stephen Green and Asia-Pacific head Vincent Cheng Hoi-chuen will host top clients invited to the opening ceremony, using one of those rare occasions when such chiefs find time to abandon the boardroom and loosen their ties.

'It's a chance for companies to invite some of their biggest customers as guests and spend dedicated time with them. There are only a few events of this level when you can persuade a CEO to take a couple of days off,' said Scott Kronick, president of public relations agency Ogilvy China.

For corporate sponsors, the challenge is to use the Olympics to imprint their brand on a global audience, especially the mainland millions. Each of the global partners for the Games reportedly paid up to US$80 million for a four-year deal.