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Rio Olympics Expecting More Chinese Investment Amid Delays

The Rio Olympics, which will kick off in 100 days, "expects more Chinese firms to invest and sponsor amid political and economic troubles in Brazil," according to XINHUA. Rio Mayor Eduardo Paes "welcomes more support and investment from China." Paes said, "China has always been a trusted and key partner of Brazil. Beijing has many successful experiences which are worthy for Rio to learn. Rio Olympics is an event drawing worldwide attention and Brazil is overcoming difficulties to meet the challenges. Brazil welcomes Chinese companies and financial institutions to support Rio, seizing Olympic opportunity in such a great sports event." Despite Brazil's economic and political turmoil, slow Olympic ticket sales and delays at some Olympic venues, Paes said that "he was optimistic." He said, "We arrived at this moment in a way many doubted we could. There are some details and issues to be addressed, problems we saw in the test-events. But things are going well in the preparations." Many Chinese companies with Olympic experience "are keen to take part in the Rio Games." Chinese sportswear company 361° "became the official uniform supplier for the games." Beijing Huajiang Culture Development Co. Ltd., the licensee of lapel pins for the Beijing and London Olympics, "is the licensed manufacturer and vendor for both mascots of Rio Olympics and Paralympics" (GLOBAL TIMES, 4/28).

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