Chinese companies become World Cup largest sponsors with $1.4 billion; brands promoted to larger market
Argentina won their third World Cup after beating defending champion France Monday Beijing time. At the final whistle, as excited as the Argentine fans were, many Chinese sponsors, who bet on the correct winner as well as cross-border e-commerce manufacturers in Yiwu, China's small commodities hub, saw an immediate spike in orders and sales volume.
As the quadrennial World Cup draws to a close, China's presence is everywhere in Qatar. Statistics show that during the FIFA World Cup Qatar 2022, the total amount of Chinese sponsorship reached $1.4 billion, making it the top sponsor among all nations around the world.
In terms of the global industrial supply chain, 'made in Yiwu' has already become a worldwide commercial symbol originating from China, which indicates 'reliance' and 'trust'", said Song Xiangqing, an economist and the vice-president of the Commerce Economy Association of China."
The World Cup sponsorship by a large number of Chinese companies is a demonstration of China's economic power, and makes the globe feel the power of Chinese brands," Song said.
The General Administration of Customs said Chinese exports surged from $22 billion in 1981 to $3.36 trillion in 2021, leaping more than 100-fold over the past 40 years.
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