China Team represents the Qingdao International Yacht Club, and is the first Chinese team in the long history of the America's Cup. The team is led by Chaoyong Wang, the chairman of a leading Chinese venture capital firm. He has formed a partnership with Le Défi, a French challenger in the last two editions of the America's Cup, to acquire their knowledge base and assets, including two America's Cup Class boats from the last event.

China Team's alliance with Le Défi will give it a tremendous head start as a new team. The French squad competed in the last two America's Cups, as well as the Louis Vuitton Acts in 2004. Along with the assets of up-to-date boats and design information, Le Défi also offers expertise on the water and America's Cup project management skills ashore.

China Team will need to work quickly. The first races of the Valencia Louis Vuitton Acts 4&5 begin in just over one month. CHN 69, the boat the China Team will race is already in Valencia, undergoing modifications to conform to the newest update to the class rule. The team will begin sailing in Valencia at the end of May in preparation for racing.