(Yicai Global) March 31 -- YTO Express Group, one of China’s leading express delivery companies, will become the exclusive logistics sponsor of the 2022 Asian Games to be held in eastern China's Hangzhou.

YTO Express has penned a deal with the organizing committee to sponsor the multi-sports competition via cash and cash equivalents, the Shanghai-based company said in a statement yesterday.

The eastern tech hub, which is slated to become the third Chinese city to host the games held every four years, should come alive with the high-spirited event in September 2022.

The courier firm will develop an information technology system and provide event clients with customs clearance, delivery, warehousing, and other logistics services, it said. In return, it will get to advertise inside the venue and use the Asian Games logo.

After the event, the Chinese firm will be considered first to become the logistics service sponsor of the 2026 Asian Games which should be held in Japan's Aichi prefecture.

The courier company's stock price [SHA:600233] slipped 0.2 percent to CNY11.08 (USD1.70) by noon.

Editor: Emmi Laine, Xiao Yi