Across The Border | China’s sport sector could be the next big growth market
China’s sports sector, worth 1.5 trillion yuan last year, is forest to double in value by 2020, and could be worth up to 5 trillion yuan by 2025
China’s sports industry could be about to come of age, as growing public enthusiasm for participatory athletic events coupled with the government’s efforts to promote sport awareness are seen as powerful catalysts for a sector still at an early stage of development by global standards.
In a national strategy spearheaded by the General Administration of Sport, China plans to build 100 towns dedicated as centres of sporting excellence for various disciplines in coming years.
The campaign is part of China’s effort to grow its domestic sports industry and provide more facilities for people to exercise.
According to the 13th Five-year Plan unveiled by the authority last year, China aims at increasing the sports area per capita from 1.4 sq metre to 1.8 sq m by 2020 and 2 sq m by 2025.
Bank of China International (BOC International) published a report led by analyst Wang Xin, saying that the sports industry has a bright outlook.
“In comparison, China’s number of fitness venues is only 1/27th that of the US,” said Wang Xin, lead analyst in a report released last week on the sector by Bank of China International (BOC International).