They will mount their challenge on an B85million (£58.5million) budget, reports The Guardian newspaper.
They will be racing in this year's events for the International America's Cup class boats in Sweden, Sicily and Valencia.
Chaoyong Wang, the former Beijing head of the investment bank Morgan Stanley and now the chief executive of China Equity Investment, is said to be providing the finance and is co-executive director with Xavier de Lesquen, the French team's administrator. The project advisor is Yifei Li, the managing director of MTV Networks in China.
It is proposed that around one-third of the 17-man crew will be Chinese and the rest French, led by the skipper Thierry Peponnet.
