Shanghai publishes policies to accelerate its sports industry

The Shanghai Municipal Government organized a press conference on Wednesday August 29, to introduce some of its latest policies/goals, the city has made to accelerate the innovative development of the Shanghai sports industry. 

There were 30 items expressing their requirements, highlighting development areas, how to establish a modern sports market and how to implement and improve sports industry policies. So these opinions accelerating the industry’s growth is called the “30 items on the sports industry”. 

According to these 30 items by the Shanghai Municipal Government, the gross output of the city’s sports industry should reach around CNY200bn by 2020, making it the leader in China; by 2025, the gross output should be around CNY400bn, becoming one of the world leading cities with an advanced sports industry; by 2035, the sports industry should reach a level that matches the  world-leading city. 

There are five major points in the growth of the Shanghai sports industry: to speed up the building of Shanghai as an international capital of sports events, to increase the power and capacity of the fitness and recreational sector, to better the sports services sector, to create an international sports trading center and finally, to upgrade capabilities for sports equipment research and manufacturing. 

The government reckons the sports industry is a rising and green industry and says that the Shanghai sports industry displays a positive development trend. The gross output of the Shanghai city sports industry (CNY126.693bn) has increased 21.1% compared to the 2016 figure of CNY47.026bn. 

However, the government says the industry is still at an initial stage in general. To assist the growth of the industry, Shanghai has outlined policy supports in areas such as financial, taxes, lands, and professional workforce. 

Reference: Sina

Proofread by Raymond Fitzpatrick