Euro 2024 sponsorship deals drive Chinese brands deeper into Europe

Although China's national soccer team is not taking the field at Euro 2024, the country's flagship companies are filling stadiums and television screens through hefty sponsorship deals and with advertising billboards.

Chinese companies account for more than one-third of the 13 top-tier sponsors at the ongoing UEFA European Championship in Germany, making the country the single-biggest source of sponsorship for the event.

The strong sponsorship demonstrates the rising technological prowess and competitiveness of Chinese brands on the global stage and their commitment to expanding into overseas markets, experts said.

Financial technology company Ant Group, home appliance giant Hisense, e-commerce platform AliExpress, smartphone manufacturer Vivo and electric vehicle maker BYD are among the official global sponsors for the championship, which runs from June 14 to July 14, according to UEFA's website.

As the official payment sponsor of Euro 2024, Alipay+, the cross-border mobile payment platform owned by Ant Group, announced plans to expand cross-border digital payment acceptance, and provide convenient payment services and special benefits for global soccer fans and travelers through its merchant network during the tournament.

Together with the company's two other international brands — Antom merchant payment services and international payments business WorldFirst — Alipay+ has appeared on LED billboards at tournament stadiums and on 50 TV channels across Europe.

The UEFA top scorer trophy, sponsored by Alipay+, will be awarded at the Euro 2024 final in Berlin.