China signs up as a Challenger for the America's Cup!
Officially, they are called China Team but they are the 8th team to formally announce themselves as Challengers.
This will be the second time China has participated in the America's Cup, the other time being for the 32nd America's Cup where they finished last in the Louis Vitton Cup in 2007. China Team apparently has the full support of the Chinese government (that's what Americascup.com tells me) which I presume means that the Chinese government is funding the team. No news sources has really mentioned that but I think its important and something to think about.
Now that you have the lowdown on China Team, I have included, for your visual delight, a lovely video of Hong Kong Harbor circa 2007 set to Jimmy Buffett's version of Slow Boat to China.