Discover the SportAccord Summit sessions!
31 Jan 2024 23:49
The newly-established sports unit of Alibaba Group, a Chinese e-commerce conglomerate headed by billionaire Jack Ma, announced that it had reached a strategic co-operation framework agreement with Shanghai Sports Bureau on the last day of 2015.
Under the agreement, Alibaba Sports will leverage the great advantage contributed by its consumer and digital platforms and work closely with the Sports Bureau to make Shanghai a globally renowned sporting city.
At the signing ceremony, Alibaba Sports revealed a set of sales data sourced from its online shopping websites Taobao and Tmall. This shows that the total consumer spending of Shanghai residents on sports goods has been increasing rapidly, reaching more than 4.5 billion yuan by the end of 2015.
Meanwhile, the number of online shoppers has also seen a significant increase with an average of more than 3 million online consumers per month in 2015. The top four sporting goods are for leisure sports, yoga, fitness and ball games while the greatest spending is on large fitness equipment.
Daniel Zhang, chairman of Alibaba Sports, believes this data could enable the government to obtain detailed information on people’s sporting interests and provide more targeted services.
With the help of Alibaba Sports, the Sports Bureau plans to develop Shanghai into an international sporting city.
Back in September, in co-operation with Sina Corporation and Yunfeng Capital, Alibaba Group Holding Limited announced in Shanghai that it had established the Alibaba Sports Group to transform China’s sports industry through Internet-enabled technologies. The sports unit is majority-owned by the Alibaba Group with Daniel Zhang, Chief Executive Officer of the Alibaba Group, as the chairman of the Sports Group.
Source: China.com
Proofread by John Devlin
Future of Sport: A Global Sports Week x Viva Technology Collaboration, Will Open in June 14
12 Jun 2023 14:59
Related coverage
History of Chinese sport system
24 Oct 2014
Fujian Province to accelerate fitness & recreational industry development
18 Oct 2017
MOF invest RMB 208 billion in culture, sports and media areas
19 Oct 2017
Beijing establishes new sports fund to drive industry growth
29 Dec 2014
Sina Sports to report China Basketball Summit 2015
23 Nov 2015
More from Yutang Sports
Hisense Named Official Partner of FIFA Club World Cup 2025
01 Nov 2024
SportAccord 2024 - sport as a ‘powerful, transformative tool’ under spotlight at CityAccord
29 Mar 2024
Ingmar De Vos elected as the next ASOIF President
10 Apr 2024
Birmingham is embracing a bright future supported by extraordinary sporting legacy
17 Apr 2024
SPORTACCORD 2024 INSIGHTS: Major Technology Trends Shaping Sports Sector
03 Jun 2024
Yutang Sports
loading...