A survey conducted by U.S.-based Pew Research Center shows 96 percent of the respondents believe the Games will be a success and roughly the same percentage are certain it will help improve China's image.
Chinese people are optimistic about the country's economy too, with more than 80 percent of the respondents saying they are satisfied with the direction the country is heading in.
China topped the list of the 24 countries where economic surveys were held, despite rising prices being the top worry of most of its citizens.
Face-to-face interviews were held with 3,212 Chinese adults in eight major cities, as well as towns and rural areas in eight provinces during the survey, which was part of the Pew Global Attitudes Project.
Most of the Chinese interviewed see the Olympics not only as important for the country, but also feel a personal connection with it.
The survey was held in March and April, and its results were announced on Tuesday.
Nearly 80 percent of the respondents across the country said the Olympics is personally important for them as well. The figure was 90 percent in the host city, Beijing.
"The survey shows all sections of society are enthusiastic about the Games, something the West has underestimated," Jin Canrong, senior professor of international relations at Renmin University of China, said Wednesday.
"Playing host to the Olympics is a milestone in China's road to modernization. The ordinary Chinese will benefit from it because it is a great opportunity for the country to open up further to the world."
In the economic surveys conducted in 24 countries, China was followed by Australia, where 69 percent of the people said they were satisfied with their economy.
The U.S. ranked 20th, with only 20 percent of Americans saying the U.S. economy was in good shape.
Though most of the Chinese said they were happy with the economy, 96 percent were worried over the rising prices.
The survey also shows a vast majority of Chinese are optimistic about the country's image on the world stage.
About 77 percent believe people in the rest of the world have a favorable opinion of China, with a miniscule 3 percent feeling China's economy hurts other countries.
"The optimism arises from the positive role China has been playing in world affairs such as the Korean Peninsula nuclear issue. China has acted as a responsible country, and its people believe in it," said Fu Mengzi, a senior researcher with China Institute of Contemporary International Relations.
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