The gold medal in Beijing Olympic Men’s Basketball is not the sole celebration NBA is having in these days. In fact, the National Basketball Association has recently signed a multiyear sponsorship agreement with Tsingtao Brewery Co. China's biggest beer company by sales.

According to the agreement Tsingtao will sponsor a nationwide search for an NBA China Dance US trained Team, help finance basketball caravan tours across the country and assist in an All- Star Game balloting system.

Moreover, and more importantly, NBA will clearly get to use the newly wed partner popularity to better brand itself to the consumer segment made up of young Chinese males, 34 millions each week  to be exactly, as it seems this is the number of young viewers the 2006-07 NBA season has attracted.

NBA official statement points out that “through Tsingtao's extensive retail network and presence in China, we will be bringing entertaining basketball experiences to fans”. Nice one!

On the other hand NBA will grant Tsingtao the international visibility the Chinese brewer has so much longed for.

We have already talked about how Tsingtao has been trying to tap into the international market. Now it seems that the national beer expansion dreams are coming to a turning point with this partnership. And as its biggest foreign market is indeed in the USA, what could have been smarter for Tsingtao than closing a partnership with NBA?