Also announced was a $2.5 million (£1.6 million/€1.9 million) prize fund for the GAC Group 2012 ITTF World Tour in which $1 million (£652,800/€781,400) will be allocated to the World Tour Grand Finals in December, the first time the 20 male and 20 female competitors will ever vie for such a sum.

The ITTF President, Adham Sharara, said: "The ITTF is extremely pleased to have provided an excellent return on investment at the 2011 World Table Tennis Championships as the title sponsor.

"The decision of GAC Group to become the title sponsor of the ITTF's 2012 World Tour is a great fit between the ITTF and GAC.

"Although the Word Championships provided high brand visibility to GAC over an intensive one-week period, the World Tour will provide regular, all year round, visibility on television providing GAC with a presence all over the world.

"We are delighted with this new agreement and hope that the relationship between GAC and ITTF is a long and beneficial one."

General manager of GAC Group, Zeng Qinghong, said: "Table tennis is a popular sport all over the world and the spirit that table tennis embodies are the reasons why GAC Group would like to further its relationship with world table tennis events.

"After the huge success of the GAC Group 2011 World Table Tennis Championships in Rotterdam we have seen that international table tennis events are an excellent way for us to further promote our growing brand both within China and beyond.

"It gives us great pleasure to extend our relationship with the ITTF."

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