On September 20, the opening ceremony of the Sichuan Sports Industry Group was held in Chengdu. The Sichuan Sports Industry Group is a giant sports industry group founded under the guidance of the Sichuan Provincial Sports Bureau, with a registered capital of RMB100m. 

“As an important business entity, investment platform, and fund-raising platform for the development of the sports industry in Sichuan province, our group will focus on being three things: a professional sports events operation platform, a platform for the integration of the key elements of the sports industry, as well as a platform that integrates culture, sports, tourism and business. The business of the group will cover more than 10 areas, including sports events, construction and operation of stadiums, sports tourism, sports financing, sports real estate, sports services, sports training, sports media and sports industry research. We will effectively create an excellent modern sports industry system, and try to grow into a first-tier sports industry group in China that is also well-known internationally. “ Said Tang Zhenyu, the General Manager of the Sichuan Sports Industry Group.

A signing ceremony was held after the opening ceremony, where Nanjing Wande, Tianjin Shengxin, Jiangmen Changhe, Fujian Peak, and Beijing Torchgrass all signed up bringing in a total investment of RMB4.2b. The Sichuan branches of the Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, and the China Construction Bank, Sichuan Provincial Rural Credit Cooperatives, and the Chengdu branches of the China Citic Bank and HengFeng Bank signed strategic cooperation agreements with the Sichuan Sports Industry Group, with a total line of credit of RMB130b.

Reference: xinhuanet.com

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