The China Golf Association and Volvo will continue their partnership in staging the Open Championship of China until 2015, according to an agreement struck at the weekend.

And next year's total prize fund for the Volvo China Open, which returns to Shanghai Silport Golf Club, will increase to US$2 million, a jump of US$200,000 from this week's prize pot, said Volvo Event Management President and CEO Mel Pyatt.

This means that the prize money has grown by a staggering 500 per cent since the championship's inaugural year in 1995.

"In principle, we have reached an agreement with the CGA to stage the Volvo China Open till 2015, which is a six year extension to our existing contract that ends in 2009," said Pyatt.

"We are very excited with the future of this great championship and we are committed to stay the course and make the Open Championship of China a major event in world golf over the next decade."

Volvo's commitment to golf in China includes grassroots development. It has an existing sponsorship agreement with the CGA till 2009 to stage the Volvo China Junior Golf Championship, which Pyatt hopes will breed future champions at its flagship tournament.

"Our partnership with golf in China has been tremendous. The early days were pioneering days and it was clearly focused around a brand strategy rather than a commercial strategy. Now, we realise that we have been absolutely right with the growth of golf as it is now with China.

"Golf is growing in China, our Open championship is growing and so is the commercial growth of the Volvo Group in this country. It is a perfect fit," said Pyatt.

Source: China Daily