Beijing Beiao Group Corp., Ltd. (“Beiao Group”), established by Beijing Municipal Government on the basis of the 11th Beijing Asia Games Organizing Committees and the 2000 Olympic Games Bidding Committee, is a state-owned, wholly-funded enterprise engaged in culture and sports industries. The Group was founded in March 1994 and became a wholly-controlled subsidiary of BSAM in March, 2010. Beiao Group now has 9 holding affiliates including Beiao Big Events, Shibo International Sports Competition, Beiao Performance, Beiao Conference/Exhibition, Beiao Advertising and Beiao International Travel Agency. Since its establishment, Beijing Beiao Group has completed the planning for, and fabrication, organization and execution of numerous national celebrations and grand international/domestic culture and sports events, such as 2008 Beijing Olympics, celebrations for the 50th and 60th anniversary of the founding of P. R. China in the capital and 2010 Guangzhou Asia Games.