Hubei Province to boost its sports industry with a RMB36m fund

Earlier this month, Hubei Province announced the goals for its sports industry for the next 5 years with the province expecting that its sports industry could generate a revenue of RMB 250bn. Now, the province has specified its 2018 plan. 

Reportedly, the government of Hubei Province will set up a fund of RMB 36m for the year, in order to attract more investment into the provincial sports industry, as well as supporting the construction of 15 sports complexes which are expected to be built in the province. 

Meanwhile, Hubei will also offer support to leading sports companies in the province and encourage tourism, cultural and educational industries to integrate into the sports industry in the province.  

Over the past years, Hubei Province has made some achievements in its sports industry, especially in sports event operations. For example, Wuhan Marathon, which was first run in 2016 brought an indirect economic benefit of RMB 219m to Wuhan, the capital city of Hubei Province. 

This year, the Wuhan Marathon has been designated as one of the Chinese Athletics Association Gold Label Road Races. 

Source: Sohu

Proofread by Raymond Fitzpatrick