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China aims to expand its sports industry to surpass CNY7 trillion (approximately USD 981 billion) by 2030, according to recent government guidelines. The country intends to foster the growth of sports companies and events with international influence, boosting its domestic sports market to new heights.
The strategic plan includes 20 specific measures across six key areas: increasing the supply of sports products and events, stimulating consumer spending on sports, supporting sports businesses, identifying new growth opportunities within the industry, strengthening industry support factors, and enhancing service and assistance levels.
To boost sports consumption, the plan emphasizes four main strategies: expanding the contexts in which sports are enjoyed, organizing engaging sports-related activities, implementing initiatives that make sports more accessible to consumers, and broadening the overall consumer base. Efforts will include diversifying sports events, developing outdoor sports sectors, expanding the ice and snow sports economy, and upgrading sports goods to increase product offerings.
The guidelines also highlight the integration of emerging technologies such as Big Data and artificial intelligence to digitalize sports products and services, aiming to modernize the industry further.
Financial support measures include guiding financial institutions to optimize investment and service offerings, encouraging eligible sports companies to go public, secure refinancing or bonds, and participate in asset securitization. Additionally, the plan seeks to maximize the benefits of relending and rediscount policies to ensure industry players receive maximum policy incentives.
In 2023, China’s sports industry was valued at CNY3.67 trillion (around USD 514.4 billion), representing 1.15% of the nation’s gross domestic product — a slight increase from 1.08% the previous year, according to national statistics. Sports services made up over 57% of the total market, sports equipment accounted for 40%, and sports venue construction represented the remaining 3%. Between 2019 and 2023, the industry experienced an average annual growth rate of more than 10%.
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