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|HO CHI MINH CITY， Oct. 27 (Xinhua) -- China's leading sports brand company Li Ning has signed a five-year sponsorship contract with the Vietnam Athletics Federation， the federation said Thursday.
Under the contract worth 5 billion Vietnamese dong (some 224，000 U.S. dollars)， in the 2016-2021， the Chinese firm will annually sponsor some 1 billion Vietnamese dong for Vietnam's national athletics team's jerseys， shoes， hats and backpacks.
This is the first time Vietnamese athletics has got full sponsorship， the federation said， adding that it will be a big driving force for them to train and compete.
Li Ning said it plans to design a costume for the national athletics team.
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The Japanese company is expanding rapidly in China as it aims to become the world’s biggest apparel retailer ahead of Zara-owner Inditex SA, Hennes & Mauritz AB (H&M) and Gap Inc. by 2020.
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