VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
The National Development and Reform Commission praised the development of the Chinese sports industry at a press conference on August 2, where the spokesperson announced the current development situation of the sports industry in China alongside other industries such as tourism and culture.
According to the spokesperson, the sports industry has been steadily developing at a high speed this year and is now a new emerging sector in the economy.
This is reflected in three aspects. The first aspect is the increasing industry scale. Up to the end of 2018, it has been predicted that the value added of the sports industry will account for more than 1% of the GDP, the sports consumption close to CNY1 trillion and the increase in the number of sports companies will be more than 20% with more than 4.4 million employees.
The second feature of the Chinese sports industry is that the composing structure of the industry continues to be optimized. The value added of the sports service sector accounts for over 50% of the value added of the sports industry. Fitness/recreational sector and sports competitions sector both grew at a speed above 20%. Aerial sports, fencing and mountain and outdoor sports all have demonstrated promising growth and have become new emerging points in sports consumption.
The third aspect is the development of new forms of sports business. Many cities and organizations are actively making reforms in the field of sports. Sports cities, sports towns/villages, sports complexes, sports parks and industry parks are being set up. Sports zones for sports organizations/businesses are forming, rather than being separated or isolated businesses.
Reference: Finance.China.com.cn
Proofread by Raymond Fitzpatrick
Future of Sport: a resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023 12:27
Related coverage
LeTV and Chongqing Daily inaugurate their co-founded company
27 Aug 2015
Community sport an invisible gold mine in China
12 Jan 2016
Ten predictions for 2015 Chinese sports industry
04 Jan 2015
China's sports industry: the untapped gold mine
10 Jul 2015
iRENA Group seals deal with Pitch International
04 Jul 2016
More from Yutang Sports
WFDF is ready to fly in Chengdu for the World Games 2025
17 Apr 2024
HealthAccord spotlights mental health and female athlete well-being
08 Feb 2024
SportAccord scores Summit touchdown with NFL
18 Jan 2024
SportAccord 2024 - sport as a ‘powerful, transformative tool’ under spotlight at CityAccord
29 Mar 2024
SportAccord Plenary Conference had fruitful talks about the soft power of sport
17 Apr 2024
Yutang Sports
loading...