Li Ning, a former gold medal winner, "runs" around the rim of the National Stadium carrying the Olympic flame

People around the world gasped in awe when the final torchbearer at the opening ceremony of the Beijing Olympics lifted into the air and appeared to run around the top edge of the arena, followed by a giant, unraveling scroll. The man was Li Ning, known in China as the Prince of Gymnastics.

In the 1980s, there were many excellent gymnasts across China, but only Li was renowned as prince of the event. Born in an ordinary family with his parents as teachers in Liuzhou City, Guangxi Zhuang Autonomous Region, Li started gymnastics practice at seven and was selected to join the National Gymnastics Team when he was 17. In 1982, he won six out of seven gold medals at the Sixth World Gymnastics Championships, including the all-round final. His record remains unbroken. In 1984, he won another six Olympic medals, including three gold, two silver and one bronze. Li closing his eyes to hold back tears is a lasting memory for many Chinese.

"I was not born to be a good athlete," said Li. "All my achievements come from continuous hard practice." In his 17-year sports career he won 106 gold medals in many competitions both in China and abroad.

In 1988, as China had no new leading gymnasts for the Seoul Olympics, Li decided to attend the competition, although he was 25 years old. He was not up to the job, falling during the vault competition and catching his foot during the rings. Even so, he still showed a smile and his failure did not dampen enthusiasm over his achievements.

In 1999, the International Sports Press Association named Li best athlete of the 20th century. Only 25 athletes around the world have received this award in the past 100 years, including Muhammad Ali and Michael Jordan.

GREAT SKILL: Li Ning at the Los Angeles Olympic Games in 1984 (FILE PHOTO)

"I am now a businessman," said Li, whose name has become a popular sports brand. After retiring from sports competitions at 26 he dedicated himself to business, first as the General Manager's Assistant at Guangzhou Jianlibao Group Co. Ltd., and then as owner of his own company-Li Ning Co. Ltd.

In August 1990, on the Qinghai-Tibet Plateau, Li, wearing a white Li Ning-brand sports suit, received the seed of fire for the Beijing Asian Games flame from a Tibetan girl. An audience of 2.5 billion saw his brand on television as a result.

Li Ning Co. Ltd. has long endeavored to establish itself as an international brand. In 1999, the company attended the World Sports Goods Fair in Germany, and made the first step for a Chinese sports brand into the European market.

In 2004, the logo of Li Ning appeared at the Athens Olympic Games. In 2006, the Spanish men's basketball team won the World Basketball Championship and collected gold medals while wearing Li Ning suits.

"I don't care how high the mountain is, the point is whether I have the ability to climb up to the top of the mountain," said Li.

In 1998, he went to Peking University's Law School, and studied with students more than 10 years younger than him. Later on he went for an EMBA in the Guanghua School of Management at Peking University and graduated after two years.

Ten years ago, Li resigned as manager of his company. Now, he leads a very free life with enough time and capital to target his next goal-charities.