China sees accelerated development of sports industry

People play table tennis at a city park in north China's Tianjin Municipality, Aug. 8, 2024. (Xinhua/Sun Fanyue)

The Olympic fever ignited by the Paris Olympics and Paralympics has not only fueled the growth of competitive sports and fitness activities in China, but also injected a shot in the arm to the country's sports industry.

Various areas, including sports competition and performance, leisure activities and sports equipment manufacturing, have ridden the Olympic wave. This synergy has extended the reach of the Olympic Games and demonstrated the Olympic spirit.

In the past decade, China's sports industry has been on a roll, growing at an average annual rate of over 10 percent. The robust growth has given new impetus to the country's high-quality economic development. In addition, the deep integration of the sports industry with other sectors has made sports a major engine driving the coordinated development of culture, tourism, and technology.

Olympic sports leading to rise in consumption

A child rock-climbs in Guilin, south China's Guangxi Zhuang autonomous region, May 6, 2023. (Photo/Xinhua)

The Olympic buzz has led to a flood of students at training centers for popular sports like tennis, table tennis, badminton and swimming, as well as a significant uptick in the sales of sports equipment.

According to data from China's service-focused e-commerce giant Meituan, searches for sports on the platform skyrocketed 180 percent in July compared to June, with tennis-related group purchases surging 172 percent year on year. The sales volume of shuttlecocks and billiard balls witnessed a three-digit year-on-year increase in July, respectively, data from Chinese e-commerce giant Pinduoduo show.

Emerging sports at the Paris Olympics like sport climbing, surfing, and breakdancing, once regarded as niche sports, have gained popularity among the public, drawing an increasing number of young Chinese fans.

A report issued by the JD Research Institute for Consumption and Industrial Development under Chinese e-commerce giant JD.com reveals that in the first half of 2024, the turnover of chalk powder, helmets, and shoes for rock climbing rose 151 percent, 42 percent, and 40 percent year on year, respectively. In addition, the transaction volume of surf swimsuits, surf foot ropes, and surfboards surged 473 percent, 175 percent, and 40 percent from the same period last year, respectively.

Sports consumption has boosted the overall growth of the sports industry and promoted the rapid development of diverse and niche markets, according to experts. As consumers increasingly seek a healthier lifestyle, sports consumption is gradually becoming a new engine driving economic growth.

Growth of sports tourism

This aerial photo taken on June 17, 2023 shows villagers performing before the "Village Super League" football match in Rongjiang County of southwest China's Guizhou Province. (Xinhua/Yang Wenbin)

Sports tourism has gained steam in China in recent years, with an increasing number of sports tourism destinations. New business models combining sports and tourism, as well as sports and culture, are becoming new engines driving consumption and economic growth.

Data from Tongcheng Travel, a leading online travel service platform in China, show that searches for sports tourism on the platform surged 87 percent from January to July this year compared to the same period last year, and bookings for outdoor sports-related destinations saw a staggering 108 percent year-on-year increase in the first half of this year.

Exploring new tourist destinations through watching or participating in games is becoming a new way for sports enthusiasts to engage in sports and enjoy life, and a new catalyst for Chinese regions to boost sports consumption and drive development.

According to a report issued by the Shanghai Administration of Sports, 118 sports events held in Shanghai in 2023 drove consumption of 3.71 billion yuan ($523.06 million).

In southwest China's Guizhou Province, the viral success of mass sports events including the "Village BA" and "Village Super League" has boosted the local economy.

Since the launch of the "Village Super League" last year, Rongjiang county in Guizhou has received over 12 million tourist visits, generating a comprehensive tourism revenue of more than 12 billion yuan.

Enhanced impact of sports industry

In recent years, China's sports industry has been growing by leaps and bounds.

According to a development blueprint for sports during the 14th Five-Year Plan period (2021-2025), the scale of the country's sports industry will reach 5 trillion yuan by 2025, with its added value accounting for 2 percent of GDP and total sports consumption by residents exceeding 2.8 trillion yuan.

The State Council recently issued an opinion on promoting the high-quality development of service consumption, proposing to actively cultivate new sports consumption scenarios, increase sports consumption venues, and launch distinctive mass sports events.

Against this backdrop, the 2024 China International Fair for Trade in Services (CIFTIS) sport services exhibition, which was held in Beijing, became an important platform for promoting the high-quality development of China's sports industry. This year's CIFTIS sports service exhibition hosted more than 300 brands from over 30 countries and regions, including China, France, and Italy, showcasing the latest achievements in international sports event services, ice and snow sports services, integrated sports services, and emerging trend sports services.

France, the guest country of honor for this session of CIFTIS, included numerous French elements in the sports service exhibition, providing new opportunities for strengthening cooperation between China and France in the field of sports.