Samaranch Global Sailing Fund launched in Ningbo

The Samaranch Global Sailing Fund was launched in Ningbo, East China's Zhejiang province on July 8, local media reported.

Approved by the Samaranch Foundation, the fund will mainly be used to promote the Olympic ideal, boost sports culture development in China, enhance global exchanges of sports culture as well as facilitate the popularization and development of the sailing around the world.

Established in China in 2012, the Samaranch Foundation is a non-profit foundation named after the late International Olympic Committee President Juan Antonio Samaranch.

A permanent office for the Samaranch Global Sailing Fund will be set up in Ningbo.

Li Quanhai, president of the World Sailing Federation, pointed out that the fund's establishment will facilitate the popularization and development of global sailing, especially in developing countries and regions.

Ningbo has over the past few years held several high-profile sailing events such as the National Youth Sailing Championships and the National Funboard Championships.

Two national sailing bases have been built around the city's Dongqian Lake. The Asian Games Sailing Center, the venue for the sailing contests of the 19th Asian Games in its Xiangshan county, has also been completed. The center is the first sports venue in Zhejiang that is qualified to host international A-level sailing sports competitions.