BEIJING, Jan. 20 (Xinhua) -- Chinese e-commerce titan Alibaba has become the top sponsor of the International Olympic Committee (IOC), the Xinhua-run Shanghai Securities News reported on Thursday.
As the major sponsor of the IOC, Alibaba will pay no less than 800 million U.S. dollars in total, according to the report.
Alibaba and the IOC jointly announced at the World Economic Forum in Davos that China’s e-commerce giant has officially become the IOC’s Worldwide Olympic Partner.
The deal runs until the end of 2028, covering the next three Olympic cycles.
Alibaba joins 12 other companies, including Coca-Cola, McDonald's and Visa, as top Olympic sponsors.
Enditem (Edited by Yang Yifan,yangyifan@xinhua.org)
A single purchase
