BEIJING - AUGUST 08: Michael Kolganov of the Israel Olympic canoe/kayak team carries his country's flag to lead out the delegation during the Opening Ceremony for the 2008 Beijing Summer Olympics at the National Stadium on August 8, 2008 in Beijing, China.

BEIJING - AUGUST 08: Hamzah Al-Hilfi of the Iraq Olympic rowing team carries his country's flag to lead out the delegation during the Opening Ceremony for the 2008 Beijing Summer Olympics at the National Stadium on August 8, 2008 in Beijing, China.

BEIJING - AUGUST 08: Taekwondo athlete Chen Zhong carries the Olympic torch on the final torch relay during the Opening Ceremony for the 2008 Beijing Summer Olympics at the National Stadium on August 8, 2008 in Beijing, China.

BEIJING - AUGUST 08: Robert Scheidt of the Brazil Olympic Sailing team carries his country's flag to lead out the delegation during the Opening Ceremony for the 2008 Beijing Summer Olympics at the National Stadium on August 8, 2008 in Beijing, China.

BEIJING - AUGUST 08: Kam-Po Wong of the Hong Kong, China Olympic cycling team carries his country's flag to lead out the delegation during the Opening Ceremony for the 2008 Beijing Summer Olympics at the National Stadium on August 8, 2008 in Beijing, China.

BEIJING - AUGUST 08: Gymnast Li Ning lights the Olympic Flame during the Opening Ceremony for the 2008 Beijing Summer Olympics at the National Stadium on August 8, 2008 in Beijing, China.

BEIJING - AUGUST 08: Ai Fukuhara of the Japan Olympic table tennis team carries her country's flag to lead out the delegation during the Opening Ceremony for the 2008 Beijing Summer Olympics at the National Stadium on August 8, 2008 in Beijing, China.

For the first time jade is used for the Beijing Olympic medals. The medals have been designed with inspiration coming from "bi", China's ancient jade piece inscribed with a dragon pattern. The medals symbolise nobility and virtue and are the embodiment of traditional Chinese values of ethics and honour, emitting a strong Chinese flavour. Noble and elegant, the medals are a blending of traditional Chinese culture and Olympism. On their obverse side, the medals reflect the Greek character of the Olympic Games: the goddess of victory Nike pictured in the Panathinaikos Stadium. While on their reverse side, the medals are inlaid with jade with the emblem of the 2008 Games in Beijing engraved in the metal centrepiece. The design inspiration of the medal hook derives from jade "huang", a ceremonial jade piece decorated with a double dragon pattern and "Pu", the reed mat pattern.

BEIJING - AUGUST 08: Tsotang Maine of the Lesotho Olympic track and field team carries his country's flag to lead out the delegation during the Opening Ceremony for the 2008 Beijing Summer Olympics at the National Stadium on August 8, 2008 in Beijing, China.

BEIJING - AUGUST 08: Roger Federer of the Switzerland Olympic men's tennis team carries his country's flag to lead out the delegation during the Opening Ceremony for the 2008 Beijing Summer Olympics at the National Stadium on August 8, 2008 in Beijing, China.