Barca, Shimao ink deal

China's Shimao Group and Spanish La Liga giant Barcelona have joined in a strategic partnership dubbed 'Excellence in Sport' that will see the real estate developer become a regional sponsor of one of the world's best soccer clubs.

Under terms of the deal, announced in Shanghai on Thursday, the two parties will collaborate in promoting social awareness and sporting excellence, as well as working together on campaigns aimed at community development and healthy living.

"Like Barcelona, Shimao is a well-established organization, dedicated and committed to making a positive impact on society," said Xavier Asens, the club's managing director in the Asia Pacific region. "We share similar values: Respect, teamwork and commitment.