China Sports Business Weekly | May 26

Here are the top China sports business news stories you need to know from this week:

Ping An Extend CSL Title Sponsorship

Chinese insurance giant Ping An extended their title sponsorship agreement with the Chinese Super League through to 2022 for RMB 1 billion. Previously, Ping An spent RMB 600 million on CSL title sponsorship for the four seasons between 2014 and 2017. Original Chinese source

LeEco Chairman Resigns from General Manager Position

LeEco’s founder and chairman, Jia Yueting, stepped down as the GM of the group’s main listed unit. The company is having to cut debt after rapid expansion led to a cash crunch. Liang Jun will step in as the new general manager of LeEco. Recent reports also claimed that LeEco’s subsidiary corporation LeSports started to lay off employees in both China and US offices. Other areas of the company are also seeing deep cuts. Original Chinese source

CFA Change Rules on Foreign Transfers and U23 Players

The Chinese Football Association announced that from the 2018 season, the number of domestic U23 players featured must be equal to the foreign players in all CFA regulated matches. Also, all foreign player transfers will be subject to a 100% tax paid to the CFA’s youth development program. This will be in effect during the upcoming summer transfer window. Read more here

China Sporting Goods Industry Added RMB 300 Billion in 2016

The recently released China Sporting Goods Development White Paper shows that China’s sporting goods industry added value exceeded 300 billion in 2016, reaching RMB 307.7 billion. This includes: sportswear, sports shoes, sports equipment and other related sports manufacturing business. Original Chinese source

Chinese Condom Brand Partners with the Houston Rockets

Chinese condom brand Zhongchuan announced an official partnership with the Houston Rockets. Zhongchuan becomes the first condom brand to partner wit an NBA team. The size and duration of the deal was not made public. Original Chinese source

J.P. Morgan Will Be the Title Sponsor for China Squash Open

SECA announced that J.P. Morgan will be the title sponsor for 2017 China Squash Open. Sports marketing company SECA has hosted the tournament for past three years. J.P. Morgan was also a leading partner in 2016. The 2017 edition will be held from 31 August to 3 September in the Peninsula, Shanghai. Original Chinese source

Nanjing to Host 2017 Volleyball World Grand Prix

Nanjing will be the host city for 2017 Volleyball World Grand Prix between 2nd-6th August. Original Chinese source

List: 2016 China’s Top 10 Highest Paid Athletes

Sports Media Titan released 2016 China top highest paid athletes list. The totals include income from salaries, bonuses, prize money, appearance fees, licensing and endorsements in 2016. Here is the ranking:

1. Sun Yang, Swimming, RMB 69 Million

2. Zhang Jike, Table Tennis, RMB 60 Million

3. Ning Zetao, Swimming, RMB 35 Million

4. Feng Shanshan, Golf, RMB 33 Million

5. Yi Jianlian, Basketball, RMB 32 Million

6. Zhu Ting, Volleyball, RMB 30.3 Million

7. Lin Dan, Badminton, RMB 30 Million

8. Zou Shiming, Boxing, RMB 25 Million

9. Li Haotong, Golf, RMB 24 Million

10. Ding Junhui, Snooker, RMB 20 Million

CSL players were not considered for this ranking due to a lack of transparency and relability in football players salaries. Original Chinese source

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