Taking advantage of Valencia's beautiful spring weather, China Team unveiled this morning the decoration of the team's new boat.

The decoration has been entirely designed by local porcelain manufacturer Lladró and depicts a chinese red dragon on yellow background together with colorful waves, an allusion to the sea the Chinese boat will be sailing in a few weeks.

The actual boat of the Chinese syndicate, CHN-79, will be painted next week with the colors and designs presented this morning, after being modified to version 5 of the America's Cup rules.

Concerning financial and sponsorship issues, none of the two parties desired to enter into details.

Nevertheless, according to China Team, the beginning of construction of the permanent base is just a matter of days if not hours, while they will start building the new boat in China around July.