It was not only the first business event in F1 history to be attended by so many of the world's leading sports executives it also brought together under one roof major national media such as CCTV, Sohu.com and China Daily, the media partner for the 2005 F1 Global Business Conference.

The conference on Friday brought together the who's who in sports marketing at the highest level. Sports supremos, global brand marketing gurus, CEOs and top executives from Fortune 500 firms got together for what seemed like one of the highest levels of strategic dialogue on sports marketing using F1 as a platform.

"I am very impressed with the knowledge and expertise they bring!" said Eberhard Schrempf, president and CEO of BMW-Brilliance and a delegate to the China Daily CEO Roundtable, a by-invitation network of leaders in government and global business.

"This is truly top class and I want to thank China Daily CEO Roundtable for inviting me," said Susan Chan, president, Swatch China, and one of the partners of the 2008 Beijing Olympic Games.

"I found the presentations and panel discussions very relevant to my job. This conference expanded my views on sports marketing," said Dr Lee Lam, deputy chairman and president of CP Group in China.

An Interview with Rolf Beisswanger (R), Vice President, Corporate Sponsoring, Siemens AG.

Question: What are your expectations for the conference

Answer: It will provide great opportunities for local brands. I will be happy to share my views and experience with the local companies, to see us grow as one in the future, and to see success for years to come. Previously, there are only international major sponsors for F1. This year, however, we have one leading local company among the major sponsors.

Question:What do you see in the future for local Chinese brands?

Answer: Sports marketing is a serious business. It has reached a level beyond a fan-based business, and CEOs are getting involved just for the sake of getting involved.

Sports marketing has strategic goals behind it. To succeed, we have to have a vision, a mission, and think how to reach our goals within the next period of time.

F1 as platform offers great opportunities for local brands, if you play the game right. You have to have the actual money, the right tools to measure the strategic goals, and you have to crate and establish relationships with the media.

SHANGHAI: Sports marketing is relatively new in China and Formula 1 racing may be the first truly international sporting event to create a permanent footprint in the country.

The Shanghai Grand Prix, now in its second year, and the potential growth of motor sports in China, have offered new opportunities for businesses to associate themselves with global sporting events.

Yesterday, Formula 1 management and the Shanghai International Circuit organized a global business conference to examine sports marketing and the opportunities it creates.

China Daily sat down with Michael Payne, the man behind the conference. Payne is a special advisor to Formula 1 CEO Bernie Eccleston and the former head of marketing and broadcasting at the International Olympic Committee.

China Daily (CD): What do you think are the key benefits from Friday's conference?

Michael Payne (MP): It takes time for the business community to understand how you create a brand, but I suppose merely to begin that discussion, to expose Chinese business leaders to some of the principles so they can begin identifying their own roadmap so they can go forward.