Schumann (pictured above), a seven-time Olympian, leaves the shooting world with an unmatched tally – three Olympic titles, five Olympic medals, three World and seven European Championship individual titles, as well as 13 ISSF World Cup trophies and 39 ISSF World Cup gold medals.

The German champion, who turns 50 this year, said he will be back as a coach.

"After more than 700 competitions, I feel it's time to say goodbye," Schumann said.

"It's time for me to give something back.

"I will start coaching young athletes, and I hope I will become a national coach soon."

Schumann made his announcement after finishing with 22 hits at the 25m rapid fire pistol event.

Ralf Schumann with his gold medal won at the men's 25 metre rapid fire pistol event during the Athens 2004 Summer Olympic Games 

The match was won by Martin Strnad of the Czech Republic with 32 hits, while silver went to the German Christian Raitz with 29 hits, and bronze to China's Zhang Jian with 25 hits.

Only the top performers were chosen and invited to compete in the final, which closed the 2012 ISSF World Cup series.

The best 90 shooters arrived from 34 countries and included: the 2012 Olympic champions and medallists; the title defenders; and the best athletes selected throughout this year's ISSF World Cup stages in London, Milan and Munich.

China finished top of the medal standings, out of ten shooting events, with a total of eight medals, including two gold, two silver and four bronze medals.

The Chinese shooters beat the Czech Republic, second with two golds, and Germany, third with one gold and two silvers.

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