Monday, 05 Dec 2016 19:02 | By Mei Zhu
On December 4th, Wang Jianlin, the Chairman of Wanda Group, gave a speech at the 7th Caixin Summit and the Second China Sports Industry Forum.
Wang spelled out the four major initiatives of the Wanda Group in the sports industry. These are to expand cooperation with international sports organizations, carry out international industrial mergers and acquisitions, introduce major international competitions and ensure that sports companies continue to make profit.
Wang said Wanda's goal is to earn one billion Yuan and hopefully several billion Yuan by 2020. Ultimately, the Wanda Sports Company will be listed in the capital market and he claims it will be an excellent and unique company in the Chinese capital market.
In his speech, Wang reviewed the history of the development of world sports. Competitive sports can be traced back through thousands of years of history, but gradually evolved into the sports industry and was commercialized during the last 100 years. He stated that the sports industry accounts for about 2 trillion US dollars, including related industries. Over 100 million people have been working in this sector and it can be regarded as a big industry.
In Wang Jianlin’s view, compared to developed countries like Europe and the United States, China's sports industry still has a long way to go.