According to Bloomberg, the International Trust & Investment Corp.'s Citic Guoan Group will focus on developing business opportunities for active and retired NBA players in China.
“The assistance of the NBPA will be invaluable both to the growth of basketball's popularity in China and the important exchange of cultural values and ideas,'' Yan Gang, chairman and chief executive officer of Citic's culture and media investments, was quoted as saying in a statement.
In April, the NBA said it will form a business unit in China. NBA surveys show that NBA games reach 314 million Chinese households and that 75 percent of Chinese males, aged 15 to 24, are NBA fans.
