A sports town-based partnership launched in Beijing

December 7: A sports town project has been launched at the Bird's Nest Cultural Center in Beijing, the capital city of China. 

Tianjin-based Zhongxing Group along with Beijing Zhongao Shengshi Culture and China Commerce Invet-Industry Holdings., Ltd have signed a strategic partnership deal to embrace the development, operation, investment and construction of sports towns.

The partnership will include three projects: Beijing Hegezhuang Creative Town and Sports Park, Chengdu Tianfu New Area Sports Camping Town, and Jilin Changbai God Bay.

The three companies also have plans to combine tourism, real estate and capital investment in the future construction of sports towns.

According to China’s five-year plan launched in 2016, the country is expecting that by 2020, the total scale of its sports industry will be more than three trillion yuan ($463.7 billion), accounting for one percent of its GDP. Naturally, the idea of a sports town has become an important part of this ambitious goal, as more and more companies enter the industry.

Source: NetEase

Proofread by William Logsdon