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The International Association of Athletics Federations (IAAF) has signed a sponsorship deal with the China Petroleum and Chemical Corporation (Sinopec).

The agreement, brokered by the IAAF’s marketing agency Dentsu, sees Sinopec become the first Chinese company to partner with the IAAF at an international level.

The addition of Sinopec as an IAAF partner, although currently for only a limited number of competitions, is the latest step in the international diversification of the IAAF’s portfolio of sponsors following the integration of Korea’s Samsung and Russian bank VTB in recent years.

Sinopec will become an official sponsor of the IAAF/VTB Continental Cup that will take place on September 4 and 5 in Croatia. It has acquired a full sponsorship package comprising six advertising boards and an array of additional rights.

Sinopec has also been awarded title sponsorship rights for the IAAF World Half Marathon Championships that will take place on October 16 in China. The event has been rebranded the IAAF/Sinopec World Half Marathon Championships.

IAAF president Lamine Diack said: “I warmly welcome the announcement of our partnership with Sinopec. This first direct association with the economic powerhouse of China is a vital ingredient in the IAAF’s long-term strategy to ensure both its financial stability and the continued global development of athletics.

“Our sport is the number one at the Olympic Games and our own World Championships is the third-biggest global sporting event after the Games and the Fifa World Cup. This agreement with Sinopec will help us to retain and enhance that position in world sport.”