Kaisa and Kaixing Capital Initiate Fund to Sports Industry
08 Sep 2016 17:26

China is planning to make participants in different sporting events to keep credit records, aiming to use a system of rewards and punishments to put the sports industry in order, according to a plan posted by the General Administration of Sport of China (GASC).
As the plan pointed out, with the continuous development of sports industry, China has experienced an increasing number of sporting events in recent years, which requires effective supervision for various sports organizations and numerous participants.
The plan said that all GASC sports management centers and national federations should use a credit system instead of a permission-based one to ensure the healthy development of mass participation events and commercial activities.
Specifically, the country will offer more services as a reward for credible people and business while blacklist those who cause bad social influence, security problems or disrupted the environment. At the same time, those who break the law will receive corresponding punishments.
In November 2017, the GASC also released supervision rules for marathon races and martial arts tournaments, with the aim of renovating the order of related events in the world’s most populous country.
Source: Sina
Proofread by William Logsdon
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