Here are the top China sports business news stories you need to know from this week:
FINA Extends Strategic Cooperation with HOSA
The International Swimming Federation (FINA) has signed a four-year extension with Chinese indoor sportswear maker HOSA, who will continue to support the FINA/CNSG Diving World Series 2018 and other major swimming events. Read more on Sohu (Chinese)
Mailman Take: FINA’s strategic cooperation with HOSA helps to promote swimming in China. As part of the partnership, FINA has selected a number of Chinese cities to host world events such as the FINA Swimming World Cup and FINA Diving World Series. In 2017, the FINA Annual Awards Ceremony was hosted in Hainan, China. Swimming in China is still underdeveloped, with the participation rate among teenagers standing at only 21%, and down to 10% in tier 2 – 4 cities.
Portugal Takes On Two New Chinese Sponsors
There are two new sponsorship deals for the Portuguese national men’s football team. Chinese beverage manufacturer Hangzhou Wahaha Group and energy drink brand EastRoc have become the team’s latest sponsors. Wahaha will launch both online and offline campaigns around the reigning European champions and will have official access to the image rights of all the squad’s players. Read more on Sina (Chinese) and SportsPro (English)
Joyrun Raises RMB 100 Million in Round C Financing
This new funding will allow Chinese running app Joyrun to expand its online and offline businesses and improve its capabilities in collecting and analysing data. Read more on Xinhuanet (Chinese)
Mailman Take: Joyrun provides users with a platform to make running a social activity. Users can join a running group, share their activity and participate in online marathons hosted by Joyrun. Joyrun currently has 53 million users and 20,000 Joyrun groups. Joyrun posted a revenue of RMB 80 million in 2017, with 75% of that coming from cooperations with brands like Adidas, BMW, and Durex. The other 25% came from registration fees for online marathons.
Belgium Signs Chinese Sponsor
As the first official sponsor of Belgium’s national men’s football team, Chinese electrical appliance manufacturer Sichuan Changhong will use the partnership to build their international presence at the 2018 FIFA World Cup. Read more on SportsPro (English)
Sina Officially Enters Esports Industry
Sina has officially authorised Shanghai Jingzong Culture Media Company to set up its first Weibo Esports Club. Through this, they will organise esports events alongside social media campaigns to be launched on Sina.com and Sina Weibo. Read more on Sina (Chinese)
Fuhua Group Becomes China Open Title Sponsor
The Chinese investment company has signed a 4-year partnership agreement with the World Professional Billiards and Snooker Association and Chinese Billiards and Snooker Association to become the title sponsor of the 2018 China Open (Snooker). The tournament will take place on 2nd April. Read more on Sina (Chinese)
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