The sport of wushu is both an exhibition and a full-contact sport derived from traditional Chinese martial arts. It was developed in China after 1949, in an effort to standardize the practice of traditional Chinese martial arts, although attempts to structure the various decentralized martial arts traditions date back earlier, when the Central Guoshu Institute was established at Nanking in 1928. The term wushu is Chinese for "martial arts" (武 "Wu" = military or martial, 术 "Shu" = art). In contemporary times, wushu has become an international sport through the International Wushu Federation (IWUF), which holds the World Wushu Championships every two years; the first World Championships were held in 1991 in Beijing and won by Yuan Wen Qing.
Source: Wikipedia, "Wushu (sport)", available under the CC-BY-SA License.