World Cup 2018, brought to you by China

Business & Technology

Top business and technology news for April 7, 2017. Part of the daily SupChina news roundup "Trump and Xi have ‘developed a friendship.’"

The scandal-hit international governing body of soccer, the Fédération Internationale de Football Association (FIFA), has recently found financial relief thanks to Chinese sponsors. The Financial Times reports (paywall) that the consumer electronics group Hisense (海信集团 hǎixìn jítuán) yesterday signed an agreement to sponsor FIFA’s 2018 World Cup for around $100 million. Hisense is the second major Chinese company to partner with FIFA. Dalian Wanda, the real estate and entertainment conglomerate run by billionaire Wang Jianlin, agreed last month to sponsor the next four World Cups.