Yutang Weekly (12.28-01.03)

Ti’ao Power pay first installment of RMB400m to CSL

A spokesman from the Chinese Super League (CSL) confirmed that Ti’ao Power, a newly established media company backed by China Media Capital (CMC), has successfully made the first payment of RMB 400 million on December 30, 2015.

Funde Holdings Group acquires 70% stake in Yanbian FC

Shenzhen Funde Holdings Group and Yanbian Changbaishan FC have agreed to extend their partnership by signing a strategic cooperation deal under which the Shenzhen-based company will acquire a 70% stake in Yanbian FC.

China to bid for AFC Asian Cup 2023

China is planning to bid for the AFC Asian Cup 2023, according to a report posted on December 19th by the Chinese Football Association (CFA).

CITIC to sell 50% share of Beijing Guoan FC

hina International Trust & Investment Corporation Group (CITIC) has reportedly agreed to sell up to half of its shares in Chinese Super League side Beijing Guoan FC, according to various Chinese media reports.

Wanda Sports sets up global HQ in Guangzhou

Real estate and entertainment giant Dalian Wanda Group has announced that it has set up a global sports headquarters in Guangzhou, the Capital of Guangdong province, and is planning to bring more international sports events to China.

Chinese sports industry reached 1.36 trillion in 2014

At a sports conference held in December 28, Mr. Liu Peng, Minister of State General Administration of Sports, revealed that the Chinese sports sector reached a business scale of 1.357471 trillion yuan in 2014.

Wanda Sports to host first Ironman event in China

Wanda Sports, the newly formed subsidiary of Chinese conglomerate Dalian Wanda signed a partnership deal with Xiamen’s governing body last Thursday (December 24) which will see Xiamen host Ironman events from next November.