(Yicai Global) Dec. 21 -- The Arowana cooking oil brand of farm product firm Yihai Kerry Investment (also known as YHK Group) has contracted to be the official oil sponsor for the 2022 Beijing Winter Olympic Games and Winter Paralympic Games, the firm announced yesterday. 

As winter sports become ever more popular in China, both domestic and foreign firms are eyeing the huge business opportunities these games will offer.

The Shanghai-based firm backed by Singapore-headquartered Wilmar International entered China in 2004. The company owns well-known brands such as Arowana and Orchid, and its business encompasses edible oil, rice and flour. 

YHK Group's Arowana edible oil claims a 40 percent to 50 percent share of China's domestic market and sponsored the 2008 Olympic Games and the Universiade Shenzhen 2011. This support for the 2022 winter games shows the firm's desire to further develop in the country.

The Beijing Organizing Committee for the 2022 Olympic and Paralympic Winter Games has signed with eight official partners since it started seeking official partners and suppliers for the winter games in August. These firms include Bank of China, Air China, Inner Mongolia Yili Industrial Group, Anta Sports Products, China Unicom, Shougang Group, PetroChina and China Petroleum and Chemical.

Tsingtao Brewery and Yanjing Beer became the official beer co-sponsors for the two games on Dec. 17. The organizing committee will also announce the sponsors for agricultural products soon, per reports.