Beijing's 2008 Olympic basketball stadium, newly named MasterCard Center, opened its door Firday for a spectacular sell-out concert by Hong Kong pop singer Jacky Cheung.

Under a five-year deal, MasterCard acquired earlier this month the right to put its name on the 18,000-seat Wukesong Arena to become the first foreign firm to get commercial naming rights over a stadium in the Chinese capital. The American credit card company didn't say how much it is paying to brand the arena with its name.

Naming stadiums after companies is common in the United States but unusual in China. After the Beijing Olympics in 2008, there were moves to sell branding rights to the iconic "Bird's Nest" National Stadium, home to track-and-field events during the Games. Despite a number of multinational companies expressing interests, nothing came of it.