BEIJING – China’s sports service trade surged by a remarkable 178% in 2023, reaching a total of 528.9 billion yuan ($74.6 billion), according to data released by theState General Administration of Sport. This significant growth underscores the rapid expansion of China’s sports industry and its increasing global presence.
The announcement came during a press conference heldby the State Council Information Office, where Zhou Jinqiang, Vice Minister of the State General Administration of Sport, highlighted the remarkable achievements of China’s sports sector since the 18th National Congress of the Communist Party of China in2012.
China has witnessed a high-quality development of its sports industry, with a flourishing mass fitness movement, outstanding achievements in competitive sports, vibrant youth sports, and rapid growth in the sports industry, Zhou stated.
The impressive performance in competitive sports is evident in the country’s medal haul at the Paris Olympics. Chinese athletes secured 40 gold medals, 27 silver medals, and 24 bronze medals, marking the best overseas performance since China’s participation in the Summer Olympics in 1984.This achievement solidified China’s position as a global sports powerhouse and Olympic champion.
Beyond competitive sports, China’s sports industry has experienced a remarkable expansion in recent years. The total scale and added value of the industry have significantly increased, outpacing the growth of the country’s GDP. From 2012 to 2022, the annual growth rate of the sports industry’s added value reached 15.4%, raising its contribution to the national GDP from 0.60% to 1.08%.
The substantial growth in sports service trade is a testament to this broader industryexpansion. China’s sports industry now boasts a comprehensive ecosystem, encompassing competitive sports, leisure fitness, sports venue services, sports training, sports manufacturing, and sports media.
The rapid growth of China’s sports service trade is a clear indication of the country’s increasing global influence in the sports sector, saidDr. Li Wei, a sports economist at Peking University. This growth is driven by factors such as rising disposable incomes, a growing middle class, and a shift towards a more active and healthy lifestyle.
China’s sports industry is also attracting significant foreign investment. In recent years, several international sports brands have establisheda strong presence in the Chinese market, recognizing its immense potential.
The Chinese market is becoming increasingly important for global sports brands, said a spokesperson for Adidas, a leading sportswear manufacturer. We are committed to investing in China and supporting its development as a global sports hub.
Looking ahead, China is committed to furtherdeveloping its sports industry and enhancing its global competitiveness. The government has outlined ambitious plans to promote sports tourism, expand sports infrastructure, and foster innovation in sports technology.
We are confident that China’s sports industry will continue to grow and flourish in the years to come, said Zhou. We are committed to makingsports a vital part of the Chinese people’s lives and contributing to the development of global sports.
The booming sports service trade is a clear indicator of China’s rising global influence in the sports sector. As the country continues to invest in its sports industry and promote a healthy lifestyle, its impact on the global sports landscape isexpected to grow even further.
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