The American heavy-equipment manufacturer, Caterpillar, has officially become an Official Sponsor of the Chinese Basketball Association League. The two parties held an official signing ceremony in Shanghai on November 26 with Vice President of Caterplliar and Chairman of Caterplliar China, Chen Qihua, and the President of CBA, Yao Ming, in attendance at the announcement ceremony.
This is the first time that Caterpillar has become involved in the sports industry, as reported by Dagongbao.
The theme of the partnership put forward by Caterpillar is “实干成就梦想”, which means “solid work realizes dreams”. Chen Qihua and Yao Ming both agree that Caterplliar’s support for hard work to build a better world aligns with the spirit of the CBA and its fans and Yao Ming says they hope to spread this spirit to more people.
China has been a very important market for Caterpillar. In 2017, China Daily reported that Caterpillar debuting new equipment in China demonstrated a growing importance of the market.
According to the official Caterplliar website, Caterpillar Inc. is an American Fortune 100 corporation. With 2017 sales and revenues of $45.462 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives
Reference: China Daily
Proofread by Raymond Fitzpatrick