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First gold could make Chen a millionaire

According to one recent report, Chen Xiexia, who won China’s first gold medal in Beijing, will receive as much as 10 million yuan for the feat. A variety of sources is sure to make her China’s next millionaire. The General Administration of Sports of China will award each Chinese gold medallist 250000 yuan (36447 US dollars), an increase of 50000 yuan over the Athens Games. But That is just the beginning. Awards from athlete’s home provinces and other sources are likely to be much more lucrative. The Fok Ying Tung Foundation has awarded every Chinese gold medalist since 1984 one kilogram of gold and 80000 US dollars.Also, Chinese athletes who earn cash rewards or other prizes as a result of success at the Games will be exempt from individual income tax. All told, the total for a gold medal is expected to be at least 1.5 million yuan.
According to published reports, Singapore will award 500000 euros (752377 US dollars), the gratest reward for a gold medal at the Beijing Games, compared with Japan’s 19000 euros and Germany’s 15000 euros. (China Daily)