China's home appliance manufacturer Midea Group has renewed an agreement with the Chinese Swimming Association, becoming a strategic partner with the association, according to the company.
"The partnership will help boost Midea's global presence," said Wang Jinliang, vice president of Midea.
The two sides will extend the partnership agreement for four more years, after a decade of cooperation.
"The swimming association's inspiration and fighting spirit is well in accordance with the company's pursuit of becoming a market leader in the home appliance industry both domestically and globally," said Wang.
Midea, based in Foshan of Guangdong province, a major manufacturing and trade hub in South China, reported an increase of 93 percent in sales from last year due to the Rio Olympics, after it became an official supplier of air conditioners in major stadiums of the Games, according to the company.
According to Wang, Midea has plans to establish a research and development center in the United Sates in the second half of the year, aiming to further promote its presence in the global market.
In the first half of the year, Midea's overseas sales accounted for 40 percent of its total, according to the company.
