International Olympic Committee President Thomas Bach confirmed the four top drawer candidates.

The new Candidature Process encourages the cities to present projects which match their sports, economic, social and environmental long-term regional planning needs.

This is part of the “Olympic 2020 agenda” which also insists on the use of existing facilities and provides flexibility for the venues to meet local sustainability and legacy needs.

A delighted IOC President Thomas Bach, confirming the four top drawer candidates, was clearly impressed with a first look at the bids on Wednesday and said he was looking forward to a fascinating competition.

“Los Angeles, Rome, Budapest and Paris are all submitting projects fully in line with Olympic Agenda 2020,” he said.

“It is impressive to see how they have incorporated the Olympic project into the long-term development plans of their city, region and country. Coming from different starting points, for all four there is a clear focus on sustainable development, legacy and in particular how the facilities are going to be used after the Olympic Games.”

Paris’s Eiffel Tower-shaped bid logo is unveiled on the Arc of Triomphe.Source:AP

The candidate files under the new procedure are delivered in three phases and the IOC will confirm (or not) the cities passing their criteria at that stage.

Wednesday’s first instalment deals with global vision, Games concept and strategy. These will now be studied by IOC working groups who will deliver reports by June 2016.

Phase two propositions dealing with governance, legal matters and venue funding are due by 7 October 2016. And the final dossier on Games delivery, experience and venue legacy are not due until 3 February 2017.

Meanwhile, Los Angeles 2024 Olympic bid chiefs decided not to hold a launch ceremony.

They instead kicked off their campaign by unveiling an official logo of an angel basking in rays of Californian sunshine on Tuesday.

The logo is accompanied by an official slogan, urging people to “Follow the Sun” by supporting the Los Angeles bid. LA previously hosted in 1932 and 1984.

Existing installations such as the Staples Centre, the LA Coliseum, the Rose Bowl, and university stadiums will be used with athletes to be housed on the UCLA campus.

The Los Angeles candidate city logo for the 2024 Olympic Games.Source:AP

The Hungarian capital Budapest has announced a modest budget of 2.4 billion euros ($3.7 billion) to build their entire infrastructure.

No launch ceremony will take place in there after opponents, fearing spiralling costs and risks of corruption, tried to force a citizens referendum to block the bid, as was the case with Hamburg.

Rome bid president Luca Di Montezemolo presided over a ceremony which was broadcast on state-owned television RAI.

With the Colosseum as their emblem and the city’s major tourist attractions as venues, the Italian capital will build on its strengths and existing infrastructure.

Paris bid committee president Bernard Lapasset will confirm a budget of 3.2 billion euros for infrastructure, with existing stadiums, arenas and world recognised landmarks all on the bill.

The vote for the host city will take place on September 13, 2017 in Lima.

Rome 2024 Committee President Luca Cordero di Montezemolo unveils Rome's bid for the 2024 Olympic Games at Palazzo dei Congressi in Rome, Italy.Source:Getty Images