Just read in the news. Gold medalist shall be awarded, must be in chinese currency 200.000, silver 120.000, bronze 80.000, 4th place 15.000, 5th place 11.000, 6th place 9.000, 7th place 6.000 and 8th place 5.000. Sorry for my ignorance. Can someone explain how do they have the 4th - 8th place in the tournment
Is there a tying error? I can imagine lin dan/chen hong/xia xuan ze fainting getting only 200 renminbi (China currency) for being champion , that is if they got champion
That's RMB 200,000 = USD$20,000 +, which consider as big bucks in CHN. Also, local / providence government will likely match the prize with same or close amount. Never have to metion you will be the national hero, and tons of business (i.e. commercial, events, etc) oppotunity.
If 200k RMB = US$20k, doesn't that mean the 8th place gets 5k RMB = US$500? Thats really bad man... I think their strategy is to make the players so afraid of getting the last few places and end up being insulted with such a small sum of $$ that the players will go all out for the top 3. V smart i say.
Well, US$500 is not bad at all , at least, you get all your equipment costs back (wow, starting from the 4th place, the money just dropped a lot!! )
I would imagine the maximum reward should be more than USD$20,000 considering the standard of living of China in big cities like ShangHai, Beijing, GuangZhou,...etc. Furthermore, USD$20K is really not much considering the wealth that many chinese have accumulated in recent years.
20k US dollars is just a tiny amount on the surface. There will be lots of other huge deals such as commercial endorsements for major corporations down the road or possibly coach a national team somewhere else. Anyways, it's a smart move since the Chinese Gov can always give them more money or job offers later. Plus, Lets say if they increase the prize award to 500k or 1 million US dollars which they can easily afford, the pressure on the athletes will be too much since Olympics itself is already incredibly stressful. Personally I know those athletes are incredibly strong mentally and physically but they simply dont need any added pressures such as winning or losing a tournament worth a million dollars.
dont forget the government likely paying rewards to other excellent chinese athletes like gynastic, diving, tracks, etc
Very true, very true. 1 million bucks, my crammy fingers would be trembling too, lol I wonder if thats what happened to our Singapore table tennis player. I think she was offered a million bucks if she got gold during the last olympics.....and she lost.....big time Guess it backfired
