The First-ever globe business conference of Formula One (F1) in its 55 years opened in Shanghai International Convention Center on Friday.

Participants are FIA President Max Mosley, President of Formula One Management Bernie Ecclestone, Chairman of IOC Marketing Commission Gerhard Heiberg and many important figures in F1 world.

Since the inaugural Chinese Grand Prix in 2004, there has been tremendous interests in the potential of sports marketing in China,and the economic and social benefits of staging global events. So how to fully exploit the commercial potencial of F1 in China is the theme of the conference.

The conference, which is regarded as milestone of Chinese sports industry, brings together many of the worlds leading marketers, who shared their insights into brand building and how to use sport sponsorship to grow their business and helped China find solutions.

F1 brings challenges to all participants, both in sports and business fileds. Bernie said, for Chinese companies, F1 can be thebest marketing tool to help you go international.

In the conference, Business leaders of famous companies around the world including Vice President of Shell Juan Carlos Perez, Vice President and Head of Global Sponsoring at Siemens mobile Rolf Beisswanger exchanged their opinion on the business power of F1, offering important advices about promoting Chinese sports industry.

Besides, Principal of Renault F1 team Flavio Briatore, Chairmanof Mclaren Group Ron Dennis and Principal of B.A.R Honda team NickFry also discussed the amazing world of F1 with their own experiences.

(China Daily October 17, 2005)