The Chinese Mountaineering Association (CMA) has announced the signing of a partnership deal with Bank of Dalian, which will allow the two sides to set up a special fund for the outdoor sports industry, reportedly worth over RMB10 billion.
Under this partnership, the CMA will support the fund by offering suggestions about the outdoor industry and facility construction, as well as helping in organizing mountain sports events. They will also recommend that the high-quality outdoor sports industry projects be built and operated in a Public-Private-Partnership (PPP) mode.
As a bank backed by China Orient Asset Management Co., Ltd., Bank of Dalian will offer various financial services to the fund.
However, this fund is just the first step in the partnership between the two parties as they will work together to create more ways to partner with each other and support the sports industry, especially the outdoor sports industry in China.
Proofread by Raymond Fitzpatrick