Shougang Group to establish winter sports industry fund with IDG

Represented by its subsidiary company, Beijing Shougang Construction Group Co., Ltd., Beijing Shougang Group has signed an agreement with International Data Group (IDG) and IDG Sports in Beijing at the beginning of September, forming a partnership with the winter sports industry. 

Under this partnership, these companies will set up a fund for the winter sports industry, as well as a startup incubator. The fund and the incubator will assist in the construction and operation of the national sports industry demonstration area jointly developed by the China’s General Administration of Sports and Shougang Group. 

Since Shougang Group moved from Beijing to Hebei Province in 2010, the former factory buildings have been transformed into a sports park. Also priorities of the Shougang, IDG and IDG Sports partnership is how the park will aim to assist the national sports teams to prepare for the Winter Olympics and benefit the development of the national sports industry as a whole.

This July, Shougang’s official website has revealed that the reconstruction of their office area for the Organizing Committee of the 2022 Olympic Winter Games, as well as the training venues for speed skating and ice hockey, would be fully completed in 2017.

Source: sohu

Proofread by William Logsdon