Hong Kong and Belo Horizonte, 4 August 2023 – Hong Kong-based professional advisory firm CW CPA and leading football club Cruzeiro Esporte Clube (“Cruzeiro”) from Belo Horizonte, Brazil are pleased to announce that they have entered into a new strategic alliance. Leveraging its profound expertise and wealth of experience in facilitating Latin American companies’ expansion into China, CW CPA will help Cruzeiro showcase its brand and access business opportunities in China.
China’s sports industry has seen exponential growth in recent years. Its total size is expected to hit five trillion yuan by 2025. In particular, the boom in the consumption of sports-related goods has been driven by an increasingly health-conscious population and the widespread adoption of e-commerce platforms, with the younger generation bolstering the upward trend.
Against the backdrop of these positive developments, CW CPA and Cruzeiro have signed a cooperation agreement to assist the latter in tapping into and capturing new opportunities for collaborative partnerships as well as other business endeavours in China.
According to Thomas Wong, Partner of CW CPA, “The CW CPA—Cruzeiro partnership marks an important milestone in promoting one of Brazil’s foremost football clubs in China. Football is immensely popular in China, and Chinese fans lead the field when it comes to their engagement with the sport. Our firm fully supports Cruzeiro’s unwavering dedication to elevating their brand globally and extending its follower base of nearly ten million enthusiasts worldwide. Through our professional expertise and vast network of connections in the local business community, we are very well positioned to help Cruzeiro achieve its goal.”
About CW CPA
CW CPA is a professional advisory firm that offers a wide array of client-focused, tailored services of professional quality, including audit and other assurance, tax, corporate secretarial, business process outsourcing, and China consulting services. Based in Hong Kong, CW CPA has offices in Shenzhen, Guangzhou, and Shanghai in mainland China as well as liaison offices in São Paulo and Belo Horizonte in Brazil, Bogotá in Colombia, Barcelona in Spain, and London in the United Kingdom.
About Cruzeiro Esporte Clube
Based in Belo Horizonte in Brazil, Cruzeiro has cemented its reputation as one of the most successful and iconic national football clubs. With an illustrious history of triumphs, Cruzeiro has won a record number of national and international championships. Founded in 1921, Cruzeiro is a reference point both on and off the pitch. In addition to being renowned for its outstanding infrastructure in South America, Cruzeiro is in the vanguard of discovering and cultivating football talent, including numerous world-famous players.