Bank of China, a partner of the 2022 winter Olympic and Paralympic Games, has announced that it will pump RMB30bn (€3.9bn/$4.8bn) into the winter sports industry in the country.
The initiative will run for the next seven years, through to 2024.
Bank of China’s chairman, Chen Siqing, said that the programme, entitled “taking part in winter sports together”, will aim to encourage up to 100 million people to participate in winter sports.
Siqing added that the bank would also offer a range of new financial services and products to coincide with the Beijing 2022 Games, according to the Xinhua news agency.
Bank of China is one of five partners to have signed up to support the Games over the past 13 months. The Air China airline, dairy producer Yili Group, sports apparel provider Anta and telco China Unicom are the other partners.
Beijing will become the first city to host both the summer and winter Olympics after it was awarded hosting rights to the 2022 Games in July 2015.
Wu Dajing (pictured) was China’s sole gold medal winner at the 2018 Games after winning the men’s 500m event in short track speed skating.