Table tennis legend Liu Guoliang has signed a deal with the Nanhai New District government of Shandong Province, marking his entrance into the sports town business.
The partners also include former female table tennis player Wang Nan, her husband, real estate tycoon Guo Bin and the real estate company Agile Group.
Under the partnership, Agile is expected to invest in a 50-billion-yuan project for the establishment of sports towns in the district. The project, which is aimed to create a talent reserve base in China, will involve professional sports training, national coaching personnel and an international sports education platform.
Meanwhile, the partners will also combine coastal leisure and holidays, health care services, high-end education support services and themed commercial facilities.
Liu Guoliang, born in Xinxiang of Henan province, has retired after the 2001 season and was recently the head coach of the Chinese Men's National Table Tennis Team.
Proofread by William Logsdon