- CNTV English - CCTV News

Wanda Group to invest 500 mln yuan to support Chinese football

07-04-2011 09:25 BJT

Watch Video

Play Video

Real-estate company Wanda Group signed a cooperation contract with the Chinese Football Association Sunday to invest 500 million yuan to support Chinese football.

According to the contract, the investment will be mostly used on training young football talents. Currently, there are about 10-thousand registered youth football players in China. Wanda Group, based in the northern city of Dalian, was founded as a football club in 1994. The club once dominated the league, winning three successive league championships.

However Wang Jianlin, CEO of Wanda Football Club, decided to exit from the football world in 1998. His company then developed well in the real-estate industry. He said the investment was to support Chinese football and there wasn't any business interests involved.

Editor:Shi Jierui |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program