Page 14 - Li Ning News Today : Breaking News, Live Updates & Top Stories | Vimarsana

We carry aa lot of heritage with us in performance sport. that's why we wanted to go to the united states as a brand rather than a manufacturing powerhouse. >> reporter: nike is still a dominant player in china. do you think they have anything to worry about? >> you know, nike is still 17, 18 times our size at this point. i don't think they have anything to worry. >> reporter: you don't? >> i don't. >> reporter: unless americans start to go ga-ga for li-ning. >> welcome to america. these are shoes. >> reporter: eunice uhn, cnn. some of the country's top appliancemakers are also doing the sam...

Some of its biggest businesses. today we want to introduce to you one of the country's leading sports brand. it's called li ning. it was formed by olympic gold medalist in the 1980s, li ning. he was the guy who literally flew around the bird's nest beijing in the spectacular opening ceremony of the 2008 beijing olympic games. it culminated in this iconic shot, really it's a fantastic shot. that's him setting the olympic flame ablaze to start the olympic games. very successful games they were, too, back to li-ning. currently revenues around $1.3 billion, up 25% from 2008. this year's full-year ...

Growth. right now, the company's revenue comes from domestic sales, 98.9% of all sales in fact come from chi china. but the country is on a mission and that mission is to expand its international reach and first up is america. the chinese brand is hoping to give u.s.-based nike a run for its money. >> who is this kid? >> his name is henry. he's from china. >> reporter: this viral video starts like a "csi" episode where they suspect a chinese company is bringing fake sneakers into the u.s. these shoes are legit. the product of chinese sportswear-maker li -ning. >> when we tried to import those ...

Compete in the u.s. >> these are launching as we speak right now. >> reporter: now li-ning is bringing the battle to nike's backyard, opening its first store in portland, oregon why do you feel it's important to go into the u.s. market? >> it's by far the largest sporting goods market in the world. all the kids in beijing and shanghai are on the internet checking out the scores of the houston rockets, the philadelphia 76ers. they are following the nba stars. we're finding that influence going west to east quite significantly. >> reporter: a lot of people associate chinese products with cheap, ...

Others have spurned like sudan. political opposition and claims of security concerns have also stymied deals like cnooc's failed attempt in 2005 to buy america's now-defunct unical. analysts say so far technology at china's oil titans doesn't match their rivals from the west. but they're trying to catch up as fast as they can. >> you look back to 2005 when the unical deal fell apart for cnooc, you've seen chinese companies moving into australia and canada and with the announcement of the deal between chesapeake and cnooc, a chinese company moving into the u.s. >> reporter: driven by a hunger f...