A cultural division of Fosun Group has agreed to cooperate with Portugal-based sports agency firm GestiFute in the sports agent business and other promotional businesses in the Chinese mainland, news portal sina.com.cn reported Monday.

Headed by Jorge Mendes, GestiFute is a Portuguese soccer agency with clients such as Cristiano Ronaldo.

Fosun Chairman Guo Guangchang, a high-profile tycoon, showed up at a press conference in Shanghai Monday.