From global games to outdoor activities, China aims for US$980 billion sports economy
Cabinet directive lists 20 measures to boost sports consumption in world’s second-largest economy by 2030
China is aiming to build a 7 trillion yuan (US$980 billion) sports sector by 2030 – complete with a series of “internationally influential” sports companies and events – as the world’s second-largest economy shifts to a consumption-driven mode, according to a new central government directive.
At a State Council meeting chaired by Premier Li Qiang late last month, officials were told that “developing the sports industry and sports consumption is an important part of implementing the strategy to expand domestic demand.”
The 2030 target is nearly double the Chinese sports sector’s scale in 2023. According to the National Bureau of Statistics, it was worth 3.67 trillion yuan by the end of that year, with its added value of 1.49 trillion yuan accounting for 1.15 per cent of national gross domestic product.
As enthusiasm for spectator sports grows, central authorities will strengthen coordination and guidance for regions applying for and hosting international events, Thursday’s directive said.