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AP Photo
Greg Gilligan, PGA Tour's Greater China managing director, second from left, shakes hands with Hong Li, co-founder and Chairwomen of Shankai Sports, during a signing ceremony to announce their joint partnership and management of the PGA Tour China series for 20 years from 2018 at a hotel in Beijing Thursday, Dec. 7, 2017. Shankai, a Beijing-based firm, says its new venture is receiving a 300 million yuan ($45 million) investment from Yao Capital, a private equity firm co-founded by former Houston Rockets player Yao Ming, and U.S.-based IDG Capital. (AP Photo/Ng Han Guan)