International Games such as the 31st Summer Universiade and the 19th Asian Games Hangzhou were held in 2023, driving the public to travel along with the events. Most of the sports equipment, specialized venues, and logistical support supplies used in the events were supplied by Chinese companies, demonstrating the emerging power of the sports industry in China. These international events contributed greatly to the domestic consumption, the number of visitors amounted to 13 million, which is a YoY increase of 34.37%.
China’s village basketball games go viral, benefiting local communities. Though the players are all amateur, most of them farmers, the “village BA” tournament is renowned for its electric atmosphere. The success of “Village BA” has not only brought fame to these villages but also helped boost the development of the local economy and tourism. Riding the wave of “Village BA”, many local youngsters who used to work in big cities have returned to their hometown to seek better opportunities.
The trend towards digitalization and service orientation in the sports manufacturing industry has become increasingly significant. China Sport Show 2023 was held on May 26- 29, interactive home gym equipment, smart gym system, stadiums made of new nanomaterials and so on were showcased in the show, demonstrating the sporting goods industry has become more personalized, entertaining, and high-end, with rich diversity.
The General Administration of Sport of China issued work plans to strengthen the configuration of fitness facilities suitable for the elderly and children. More and more communities across China have renovated the fitness facilities to become more user-friendly to aging population and young generation.
Customs figures suggest positive prospects for foreign trade in sporting goods in China. According to the report on foreign trade in the sporting goods industry conducted by CSGF, positive figures could be found in specific sectors such as fitness equipment and artificial turf despite of the slow recovery of global trade. Russia and Malaysia become the emerging export markets.
Outdoor industry has become one of the fastest growing segments within sports industry for recent years. According to China Outdoor Sports Industry Development Report, outdoor products market in China is expected to reach 209.1 billion RMB (approximately 29.13 billion USD) in 2023, with a YoY increase of 7.3%.
The night-time economy fuels the enthusiasm for sports consumption. With the growing demand for late-night exercise, 24-hour self-service gyms and other sports clubs are on the market. Sport has become a popular addition to city nightlife.
China Commission of Arbitration for Sports (CCAS) was established by the General Administration of Sports on February 11, 2023. Relevant arbitration practices can timely and fairly resolve sports disputes through sports arbitration, effectively resolve conflicts, and create a favorable environment for the development of the sports industry.
Government has emphasized the importance of integrating sport into education, issued guidelines to clarify the future direction of physical education reform, local governments have responded positively. Education Bureau of Shenzhen Municipality, for instance, has adopted a policy requiring compulsory schools to provide one PE class every day.
Demand for ice and snow sports in various regions of China is increasing in the 2023-24 snow season following the Winter Olympics. As well as providing a major boost to the local cultural and tourism services industry, it also facilitated the growth of the ice and snow equipment manufacturing industry. The popularity of ice and snow consumption has also encouraged domestic companies to invest in creative design and brand development.
Post time: Feb-03-2024