China’s sports industry steps into a golden era with policy and capital support

The sports industry, one of the most promising industries worldwide, is rapidly gaining momentum in China. Although China’s sports industry is still in a young stage of development, this is a good indication of its tremendous potential and bright future.

With the introduction of a series of supporting policies, such as the 13th Five Year Plan for the Development of the Sports Industry, China’s sports industry has been flourishing over the past few years with plenty of room for market growth. By the end of 2015, it grew to RMB 473.7 billion, accounting for 0.7% of China’s annual GDP (as opposed to 1% - 3% in developed economies), an representing a year-on-year growth of 17.3%.

The above supporting policies have also fuelled the rapid overseas expansion of Chinese companies, which are competing for rights in sports event broadcasting, the acquisition of sports assets, and the manufacturing of sports products. Companies such as Internet giants Baidu, Alibaba and Tencent, and cultural & entertainment groups LeTV, Wanda, Suning and China Media Capital, have invested billions of dollars into the industry.

Industry experts predict the coming 10 years will be a golden era for China’s sports industry with the dual driving forces of policy and capital support. [click here to view the Sports page] [click here to view the Sports page]

Read more (Chinese only)

Disclaimer
The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.
Top