Liman Huishan NE won the Chengdu Masters title with victory over Vienna ©FIBA

Liman Huishan NE have won their first masters event of the International Basketball Federation (FIBA) 3x3 World Tour this season as they were victorious in Chengdu.

The Serbian side defeated Vienna 21-20 in a thrilling final in China that helped them get over their final loss in Shanghai last week.

Liman were formidable throughout the two-day tournament and took a deserved trophy courtesy of Stefan Kojic's match-winning shot.

His side were 20-19 down in the first-to-21 contest with 14 seconds left before he fired from beyond the arc to clinch victory.

In the final minute, the result could have gone the other way but Quincy Diggs missed both free throws.

Converting just one would have given his side the title. 

Liman's path to victory also saw them beating top seeded Ub Huishan NE, also from Serbia, and home favourites Beijing.

Chinese player Zhang Ning of Liman was named as the tournament's Most Valuable Player.

He topped the charts for points with 37 while finishing third in both highlight plays and rebounds on 14 and 19, respectively.

Zhang was presented with the award from Dai Shixing, deputy principal of the Chengdu Youth Amateur Sports School.

In the final he amassed four points, four rebounds, one key assist, and one highlight play.

Swiss outfit Lausanne Sport LS pipped Beijing to the final podium place as they claimed the bronze medal.

In the individual contests, Ulaanbaatar's Canadian Steve Sir won the shoot-out contest while Ukrainian Dmytro Kryvenko won the dunk contest once again after also triumphing in Shanghai.

The World Tour is next set to return with another masters event in Abu Dhabi from October 28 to 29.