Yutang Weekly (12.21-12.27)

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Beijing hosts China Sports Industry Forum 2015

The China Sports Industry Forum 2015 was held yesterday by Peking University (PKU) Institute for Sport Science and PKU Department of Phsical Education, in partnership with TTD Sports Media, PKU Sports Industry Research Center and Graduate School of Management Communication University of China (CUC).

Chinese sports industry to reach 7 trillion by 2025

The Chinese sports sector is expected to expand to 7 trillion yuan by 2025, 2 trillion more than the central government's 5 trillion target.That's according to the local governments, after they reported their goals for their sports sectors. Earlier this month, a senior sports official claimed that China’s sports industry is expected to account for 0.7 percent of GDP with an added value of 400 billion yuan in 2015 and by 2020, the total business scale of the Chinese sports industry is expected to exceed 3 trillion yuan.

The most influential sports brands on Weibo
There are now over 1,200 official sports organizations on Weibo – an 18% year on year increase and the likes of sports teams, leagues and players are enjoying an incredible popularity on Weibo.Liverpool FC is ranked as the #1 most influential European football club on Weibo, ahead of Bayern Munich, Manchester United, Chelsea and Arsenal.   

Yao Ming expected to join Basketball Hall of Fame
Former NBA star Yao Ming is expected to be inducted into the Basketball Hall of Fame in 2016 following potential changes in the election process, according to a report in Agence France Presse.

Huawei partners with Norwegian Ski Federation

Huawei Technologies Norway has announced a sponsorship deal with the Norwegian Ski Federation - Cross Country with the aim of promoting its products to a wider audience in the country. 

Banana Plan Sports hires former CCTV presenter as CEO

Banana Plan, an entertainment and sports company established by Chinese magnate Wang Sicong in September, announced this morning (December 22) that the company has hired former CCTV sports presenter Duan Xuan as the new CEO of Banana Sports.

China United Travel to buy 55% shares of sports company

China United Travel Co., Ltd (CUTC), a public-listed company focusing on leisure and travel, announced last Friday that Suzhou Hualv Xinji Sports Investment Center, one of its joint ventures, will purchase 55% of the shares (at a premium) of Beijing Future Sun Sport & Culture Company. 

CMC deepens involvement in Chinese football
China Media Capital (CMC), a state-backed investment firm chaired by media mogul Li Ruigang, has enhanced its efforts to deepen its commitment to the Chinese football industry following its earlier decision to buy a 13% stake in City Football Group(CFG) for US$400m (around £265m). Apart from its famous football property Manchester City FC, CFG also owns other sister clubs including New York City FC and Melbourne City FC.

Nike China sales increase 24% to $938m
Nike, the world’s largest footwear maker, reported a 4.1 per cent rise in quarterly revenue as demand rose for its shoes and apparel in North America and China.New footwear launches in the basketball, running and sports categories are helping Nike draw customers toward higher-priced products, while the “athleisure” trend is driving sales in the athletic apparel sector.