China seems to have a genuine interest in getting involved in the America's Cup. Rumours are growing that the Chinese want to appear on the world stage of sailing.
On 22 November 2004, Michael Bonnefous, boss of America's Cup Management (ACM), met with Olympic Committee officials in Beijing. He then expressed his hope of organising an America's Cup Act in 2006 in Quingdao, the venue of the 2008 Olympic Sailing Games.
At the time, the Secretary General of the Chinese Olympic Committee, Gu Yaomin, was still cautious: "We are very interested. But sailing is so expensive and technically demanding. Is China ready for it yet?" Nevertheless, according to rumours following further meetings between the ACM and the Chinese, the probability of an event in Quingdao is 80 percent.
There are also indications that China could finance a new team for 2007. Li Quanhai, the Secretary General of the Chinese Sailing Association, said that two teams are working on preparing a China Challenge for 2006. One is considering a merger with the French, the other with the Americans. This could point to the syndicates of Le Defi or a comeback of Dennis Conner.
Another comment from China came from Wang Chaoyong, President of the private bank ChinaEquity. He was quoted as saying that his company would spend 50 million US dollars to buy a European team. There are those who claim that GBR Challenge could be revitalised in this way.
There is also speculation on the internet that China would go to great lengths to organise the 33rd Cup. If the next winner organises another bid, China would be a hot candidate. It fits in with the strategy of bringing major sporting events to the country in order to document the new openness. Formula 1 made a guest appearance last year, as did the American professional basketball league and the international tennis circus. The highlight is the 2008 Olympics.
