A signing ceremony for new sponsorships for the 2nd National Youth Games takes place in Taiyuan, Shanxi province, on July 16. [Photo/sxrb.com] 

The 2nd National Youth Games has so far signed sponsorship deals worth over 400 million yuan ($58.16 million) with State-owned enterprises and private companies, according to a press conference in Taiyuan on July 16. 

Prior to the latest contracts, 19 State-owned enterprises had signed contracts with games organizer Erqinghui Resources Development Co, worth about 280 million yuan, accounting for 67 percent of the total sponsorship. 

More than 30 private companies engaged in clothing, dairy products, beverages, environmental testing, competition equipment, coatings, advertising, and agricultural products, have paid around 140 million yuan in sponsorship deals. 

The games itself takes place in Shanxi province on Aug 8-18.