The Guideline for Developing the Sports Industry to Promote Sports Consumption was deliberated and passed at a Guangzhou Municipal Government executive meeting on 28th November. The Guideline pointed out that Guangzhou will establish 15 municipal and 66 district-level Sports Industry Functional Zones and build a City Sports Service Complex to serve as the new city landmark. It is predicted that the total volume of the Guangzhou sports industry will reach 250 billion RMB in 2025 and will account for 5% of Guangzhou’s GDP.    

The newest statistics show that the sports industry in Guangzhou includes 25,400 legal entities, 118,600 employees and the whole industry is worth RMB 179.787 billion. The added value of the Guangzhou sports industry reached 33.758 billion RMB while the added value accounts for 1.87% of Guangzhou’s GDP. In recent years, Guangzhou has developed rapidly in its sports industry modernization and has formed several competitive sports industry main bodies. The sports industry has also become an important part of Guangzhou’s modern service industry.

The Guideline also pointed out that the proportion of sports service sectorwill increase to 50% of the whole sports industry in 2025 and a number of sports enterprises will become the main market forces of the sports industry. Several enterprises will go public in the future and the total volume of the sports industry will reach 250 billion,5% of the GDP of Guangzhou city. The sports industry is becoming an emerging pillar industry of the city.

Proofread by Sean O Diobhilin