Olympic fever sparks revenue surge in Zhejiang ahead of Paris Games

HANGZHOU, June 6 (Xinhua) -- As anticipation builds for the 2024 Paris Olympic Games, the Olympic economy in east China's Zhejiang Province is experiencing a significant upswing, with soaring exports of sports equipment and Olympic-themed products.

The Paris 2024 Olympic and Paralympic Village was officially inaugurated earlier this year, in a milestone moment that included 3,000 eco-friendly lazy sofas crafted by Rayri, a home textile company in Tongxiang City, Zhejiang.

Fei Zhongfu, chairman of Rayri, said their innovative sofas are filled with recycled foam scraps and clad in a special fabric that is both water-resistant and flame-retardant to the highest global standards, showing excellence in sustainability and safety.

Zhejiang Texwell Textile Co., Ltd., based in Haining City, has been at the forefront of functional fabric innovation since 2008, providing attire for major international events such as the Beijing Olympics, the Beijing Winter Olympics and the Hangzhou Asian Games.

For the Paris Olympics, the company has expanded its expertise by collaborating with renowned sports brands to develop high-performance, eco-friendly fabrics for athletes from various nations, enhancing athletic performance with built-in moisture-wicking, quick-drying and heat-retention properties.

"Currently, over 50 percent of our products are crafted from recycled materials," said Hu Xiaochun at Zhejiang Texwell, showcasing a model whose fabric is integrated with yarn spun from recycled PET bottle chips.

Yu Hongbiao, deputy general manager of Zhejiang Texwell, said that collaborations with multiple brands highlighted the need for an expanded production capacity, prompting plans for new factories and establishing a bullish outlook on future market growth.

Yiwu, often called "the world's supermarket," is also abuzz with orders ahead of the Olympics. Guo Huiping, a business operator in Yiwu's international trade market, has witnessed a surge in both new and returning customers, noting that light sticks for cheering are particularly popular.

"This light stick, customizable in the colors of the French flag, has been a popular choice among French customers," Guo said, holding up a blue, white and red light stick and noting that a client has recently ordered 100 boxes of the product, along with similar bulk orders for other popular items.

In Yiwu's international trade market, abundant products featuring the French tricolor, the Eiffel Tower and the Gallic Rooster indicate merchants' readiness for the Paris Olympics. Zhou Tingting, another business operator, highlighted the high demand for their uniquely designed products that combine French emblems with the national flag, noting that only advance orders can be fulfilled due to a busy production schedule.

Zhou has also reported a more than 50 percent increase in exports to France compared to last year, including exports of event series items, costume sets and national flag products.

Many business operators say they see the Olympics as an opportunity to expand beyond France into other European markets. And to capture an increased market share, some have introduced new products tailored to European tastes.

"Since the beginning of the year, we've produced nearly 300,000 trophies, with about half destined for Europe," Ye said, adding that the Paris Olympics have had a clear impact on order growth.

Yiwu customs data reveals that in the first four months of this year, Yiwu's exports of sports goods totaled 3.1 billion yuan (about 428 million U.S. dollars), a 45.6 percent year-on-year increase. And exports to France amounted to 1.04 billion yuan, a 22 percent increase.

Quality and affordability have long been the hallmarks of Made-in-China products. During major events like the Olympics or the World Cup, Made-in-China goods often showcase innovation and gain market favor, bolstering confidence in the thriving Olympic economy.