The partnership with the Hong Kong-based private entity, whose businesses encompass finance, banking, consumer goods and other markets, was approved at the world governing body's 2014-2015 Executive Committee Meeting, currently being held in Istanbul.

"It is a great step forward in the success of our global boxing project and the development of AIBA," AIBA President and BMA board chairman C K Wu said.

"We are grateful for the insight and belief that FCIT Chairman, Mr Di Wu, has for the potential of boxing in the future.

"I am especially pleased to have a partner and investor with a proven record of business success who will provide us with great value above and beyond the investment fund."

As part of the deal, FCIT will be the exclusive representative for all BMA China businesses, which promote and sell rights for all AIBA products, located in the Greater China territories, including mainland China, Hong Kong and Macau.

Meanwhile, AIBA's World Series of Boxing (WSB) - launched in 2010 and entering Season V with 16 teams in January 2015 - and AIBA Pro Boxing (APB), which begins on October 24 this year, programmes will offer the firm the opportunity to expand in the sports industry.

"We have always believed in the rapid growth of businesses in the sports industry and boxing has that potential," said Di Wu.

"In addition to its elite level programmes, we believe that there is great potential for success in AIBA Pro Boxing and the World Series of Boxing both in terms of short-term revenue generation and long-term asset values."

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