Official CBA League company launched in Beijing

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The CBA League (Beijing) Sports Co. Ltd. (CBA Company) recently held an official press conference in Beijing, as part of the company’s unveiling ceremony. The leader of the CBA, members of the CBA League Committee, members of the CBA Board of Directors & Board of Supervisors and representatives of all shareholders were present at the meeting.

The CBA league made plans to to reform in 2013. On September 22nd this year, the CBA Company's first shareholders meeting was held in Jinan where they elected the first Board of Directors and the first Board of Supervisors. On October 21st the CBA Company completed the industrial and commercial registration procedures.

The CBA Company has a total of 21 shareholders.  Juren Advertising Center, a wholly-owned Subsidiary of the CBA, accounted for 30% of the shares and 20 clubs each have a 3.5% share in the company, accounting for 70% of the total shares. Li Jinsheng, the Deputy Director of the Basketball Management Center of General Administration of Sports of China, is concurrently serving as Chairman of the Board. The CBA clubs elected Yao Ming, an investor in the Shanghai Oriental Club, to be Vice Chairman. 

At the company's inauguration ceremony the CBA Company’s Chairman, Li Jinsheng, stated that the CBA Company will focus on the development of the league in the future, while actively supporting the Chinese national team.

‍‍‍‍Proofread by Sean O Diobhilin‍‍‍‍

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