China Sports Weekly Highlight | Li-Ning Signed Sindhu for 7 million USD
Here are the top 7 sports business news in China that you CANNOT miss over the last week.
Li-Ning Signed Sindhu for 7 million USD
Olympic Silver medalist P.V. Sindhu signed a four-year sponsorship deal with Chinese sports brand Li-Ning. The deal is worth Rs 50 crore, around 7 million USD.
After becoming the first Indian women to win a silver medal at the Rio Olympics, Sindhu rose to stardom and was ranked at 15th place among India’s most valuable celebrity brand by the global valuation and corporate finance advisors Duff & Phelps.
Last month the Chinese company had signed a similar four-year deal worth Rs 35 crore with Sindhu’s compatriot Kidambi Srikanth. The successive signing of the Indian badminton shuttlers shows the confidence of the Li-Ning in the Indian market.
UEFA Launches Champions League Service on Wechat
On February 13th, the UEFA officially launched its media service on Chinese multi-purpose messaging and social app WeChat to connect with fans in China.
Last year in November, UEFA also restarted the UEFA Champions League Weibo account. On these two platforms UEFA will continue to provide Chinese fans with exclusive content such as highlights, classic moments, star interviews and data analysis of Champions League matches.
The UEFA Champions League will try more new ideas, launching various events on major festivals and match days to provide more interactive opportunities for Chinese fans.
VAT Exemption Policy for Beijing 2022 Olympics Sponsors
The Ministry of Finance (MOF), the State Administration of Taxation (SAT) of China announced a VAT Exemption policy for sponsors of Beijing 2022 Olympic and Paralympic Winter Games in a notice on February 14th.
According to the notice, an enterprise shall be exempted from VAT on services related to the 2022 Olympic Winter Games, Paralympic Winter Games and test events in Beijing that it provides free of charge for the Beijing Organizing Committee for Winter Olympics under relevant sponsorship agreement. Tax exemption lists shall be submitted by the Beijing Organizing Committee for Winter Olympics to the MOF and the SAT for determination.
Shanghai SIPG be the Top of AFC Clubs Competitions Ranking
The AFC announced the 1st round Asian clubs ranking of 2019. Shanghai SIPG ranks the first with 93.10 points. Al-Duhail of Qatar and Al-Ain of UAE follows behind.
The main reference standard for this ranking is the performance of the club in the AFC Champions League. Guangzhou Evergrande, which has been ranked in the forefront for many times, has fallen to the eighth place.
Jiangsu Suning (16th), Shandong Luneng (22nd), Tianjin Tianhai (23rd), and Shanghai Shenhua (51st) are also on the list.
China's Ice-snow Tourism Revenue to Hit $50 billion
According to the recently released China Ice-Snow Tourism Consumption Big Data Report (2019), the number of ice-snow tourists in China reached 197 million, and the ice-snow tourism revenue was about 49.1 billion USD, which was 16% and 22% higher than those of 2016-2017.
It is estimated that by the ice season of 2021-2022, the number of ice-snow tourists in China will reach 340 million, and the income will up to 101.2 billion USD.
The report shows that the countries most favored by Chinese tourists are Japan, Switzerland, Russia, Finland, the United States, France, Sweden, Iceland, Norway and Austria.
Sina Sports Obtains the European Tour Exclusive Digital Broadcast Rights
On February 13th, Sina Sports and the European Tour have secured a long-term partnership with both sides. The two parties announced that Sina Sports has owned the exclusive digital broadcast rights to all European Tour events until the end of 2021 season.
In addition, as part of the long-term partnership between the two parties, Sina Sports will manage the European Tour’s official social media assets in China with its newly-created in-house digital media agency to help the European Tour enhance its influence in China.
SKECHERS Achieves 36% Sales Growth in China
On February 7th, the US sports brand SKECHERS announced its full year and the fourth quarter earnings report for 2018. Last year, SKECHERS' global sales totaled $4.6 billion USD, and the fourth-quarter sales reached $1.08 billion USD. SKECHERS said that global sales for the first quarter of 2019 are estimated to be between $1.2 billion and $1.3 billion USD.
The Chinese market has contributed to the outstanding performance of the SKECHERS global market last year. In 2018, SKECHERS’s retail sales in China totaled 2.1 billion USD, a year-on-year increase of 36%, selling more than 19 million pairs of shoes. In the next two to three years, 300 new SKECHERS superstores are expected to open in China.
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