The company, founded in China in 1978, are set to introduce a wave of new technology into the sport, including portable rings.

The rings were exhibited during the AIBA 70th year Gala Dinner in Montreux earlier this week and amateur boxing’s worldwide governing body say they will “have an enormous impact particularly at smaller projects and gyms where space is scarce”.

They are also expected to provide smaller National Federations with the chance to take rings across the country, which will in turn save costs as they will not be required to build as many separate facilities.

AIBA claim the agreement with Taishan Sports, who also work with other governing bodies such as the International Judo Federation, will “maintain boxing’s position as one of the world’s most popular, exciting and forward-thinking sports”.

Taishan are set to specifically tailor equipment for the junior and women boxers to help with the development and promotion of grassroots boxing.

“AIBA is delighted to confirm our agreement with Taishan and we look forward to a long and fruitful partnership that will keep boxing on the frontline of innovations in sports technology,” AIBA President C K Wu said.

“We have always embraced the evolution of equipment and it is vital that we discover ways of developing it in an affordable manner without compromising on the safety and comfort of our athletes.

“Taishan’s Olympic pedigree makes it the perfect partner for AIBA.”

Taishan Sports chairman Cui Gang said they were “honoured” to be working with AIBA in the organisation’s 70^th year.

“We are honoured to partner with AIBA in their 70th year and to be a part of their highly innovative approach to boxing moving forward,” he said.

“Taishan has watched closely as President Wu has seen through a number of hugely important reforms for the sport and we are excited at the prospect of using our R&D know-how to contribute to that positive ethos.”