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China's 110-metre hurdling champion Liu Xiang is the country's most marketable Olympic athlete and could cash in to the tune of 60 million dollars if he wins gold in 2008, state media said Wednesday.

An advertising billboard showing China's record-breaking hurdler Liu Xiang, in January, in Beijing. Liu is the country's most marketable Olympic athlete and could cash in to the tune of 60 million dollars if he wins gold in 2008, according to state media.[Reuters]

That's the conclusion of a three-year study by the China Institute for Brand Research, which ranked Liu top among the country's Olympic athletes in earning potential, the 21st Century Business Herald reported.

The study, which looked at the prospects of 50 Chinese athletes, estimates Liu could rake in 461 million yuan (60.5 million dollars) in endorsement fees, advertising contracts and media appearances if he wins his event at the Beijing Olympics.

The newspaper called the study the first of its kind in China.

Liu became a huge star in China when, at the 2004 Athens Games, he became the first Chinese male to ever win an Olympic track gold medal. He has subsequently set the world record in the event.

His photogenic face is nearly omnipresent in ads for mobile phones, drinks and a range of other products in China's big cities.

Chinese athletics officials expressed concern recently that the crushing embrace of fame could prove too much for Liu and derail his career.

However, Liu has since played down that talk, saying he intends to compete at a high level through the London 2012 Games.

Following Liu on the marketability list were a range of divers and ping-pong players -- traditionally two of China's strongest sports.

At number two was Tian Liang, a two-time gold medalist in men's diving who announced his retirement in March, followed by women's diving champion Guo Jingjing, one of China's most successful athletes ever.