Tuesday, 01 Nov 2016 09:50 | By Mei Zhu
The “Deng Yaping Sports Industry Investment Fund", started by Deng Yaping’s team and funded by Zhongyuan Asset Management Co. Ltd., has been formally established. The fund aims to raise 5 billion yuan in total and 500 million yuan in the first phase. They will focus on sports related fields such as sports events, stadium construction and operation, sporting goods manufacturing and sales, sports training and sports rehabilitation, sports media, etc.
Zhongyuan Asset Management Co., Ltd. was incorporated in August 2015. It is the first local asset management company, approved by the Henan Provincial People's Government, which can acquit non-performing financial assets. Its registered capital has reached 3 billion yuan, while the company asset size is 12.48 billion yuan. Henan Provincial People's Government claimed that sports enterprises are the main force for the development of the sports industry. However, the investment is of the high risk variety.
These enterprises are generally facing problems like funding shortages, so it is urgent to increase support to these enterprises. Deng Yaping has a lot of influence across the world and that’s mainly why this fund could be raised. Meanwhile, Deng Yaping possesses an international perspective, business operations experience in international competition and the ability to integrate global resources.
Deng Yaping is a former Olympic table tennis champion. She is the only Chinese Olympic athlete to have won four Olympic gold medals, at least back then.
Proofread by Sean O Diobhilin