BEIJING, Aug. 20 (Xinhua) -- The General Administration of Sport of China (GASC) and athlete Liu Xiang won't pursue any claim to the 100 million yuan (14.5 million U.S. dollars) in accident coverage that China Ping An insurance extended to Liu last year, a company spokesman said on Wednesday.
The one-year policy was given to one of China's favorite sportsmen, free, by China Ping An in October. The policy took effect on Nov. 1, 2007, when Liu became a welfare ambassador for the company.
It was the largest amount of coverage ever for a Chinese athlete.
The GASC was a third party to the agreement, which is required whenever Liu or another Chinese athlete enters into a commercial arrangement. Such athletes are trained and educated by the state.
After Liu pulled out of the 110-meter hurdles event on Monday, there was much public speculation about whether he would be eligible for the huge insurance payout.
China Ping An sent messages of consolation to him afterward, saying his withdrawal would not affect his relationship with the company.
The GASC said on Wednesday that Liu's first priority is to recover from the injury and prepare for a comeback. Thus, there is no need to claim the insurance at present.