"We have been working intensively in Beijing in recent days and we have made progress in the negotiations with a leading organisation in China," vice president and head of marketing and media Marc Ingla told the club's website.

"The talks have been positive and will continue over the next few weeks. We hope to be able to give more details as the process continues and reaches its conclusion."

Spanish media reported that a delegation from the club, which included president Joan Laporta, had met Chinese officials in order to put the finishing touches to an agreement that would see the Primera Liga side promote the 2008 Beijing Olympics and the city itself from next season.

Barcelona-based sports paper El Mundo Deportivo said that if the five-year deal was successfully concluded it would be worth at least 19 million euros (24.61 million dollars) a season with additional bonuses based onresults.