The Bank of China has been announced as the first official partner of Beijing 2022 ©Beijing 2022

The Bank of China has been announced as the first official partner of the Beijing 2022 Olympic and Paralympic Winter Games.

A signing ceremony took place in the organisation's headquarters in the Chinese capital earlier today.

Cai Qi, the President of the Beijing 2022 Organising Committee, was joined by Tian Guoli, the chairman of the Bank of China's Board of Directors, at the ceremony.

The company were also a sponsor at the Beijing 2008 Olympic Games.

As part of the relationship, the Bank of China will provide all pre-Games and Games-time banking services and will offer its "international, diversified and professional networks" to support the country’s winter sports development.

"Beijing 2022 will be a milestone event in China’s history, and is of far-reaching significance to exhibiting China’s image, promoting the country’s development and upgrading the national spirit," said Chen Jining, the acting Mayor of Beijing and Executive President of Beijing 2022.

"Chinese President Xi Jinping has said on many occasions that China will host a fantastic, extraordinary and excellent Olympic Winter Games in a green, sharing, open and clean manner.

"The marketing programme guarantees the success of Beijing 2022.

"It offers a broad stage for enterprises to promote their brands and sharpen their competitive edge.

"Since the marketing programme was launched in February this year, Beijing 2022 has been seeking an official banking partner based upon openness, fairness and justness.

"The Bank of China beats other competitors and becomes our first official partner."

The Bank of China also sponsored the Beijing 2008 Games ©Getty Images
The Bank of China also sponsored the Beijing 2008 Games ©Getty Images

Beijing 2022's marketing programme is made up of three key parts.

It includes a sponsorship programme that grants enterprises the right to use the marks and related intellectual properties of Beijing 2022 along with plans for licensing and ticketing at the Games.

The sponsorship programme is divided into four tiers - official partner, official sponsor, official exclusive supplier and official supplier - depending on each company's financial contribution.

Beijing 2022 will reward sponsors with rights packages, including marketing rights, hospitality rights, rights of products and service supplies.

The marketing period for the Beijing 2022 sponsoring enterprises runs across two Olympic cycles, from 2017 to 2024.

It will cover various international sports events held under the auspices of the International Olympic Committee and the International Paralympic Committee, including Pyeongchang 2018, Tokyo 2020, Beijing 2022 and the Olympic and Paralympic Games in 2024.