The General Administration of Sport of China and the National Bureau of Statistics of the People’s Republic of China today released statistics of the Chinese sports industry’s value in the year of 2016, at a National Sports Industry Development Forum hosted by the General Administration of Sport in Xiamen, Fujian.
Deputy Director Zhang Dongyou from the accounting department of the National Bureau of Statistics interpreted the statistics on site. The result was also published at 9.30am today on the National Bureau of Statistics website.
Extended reading: the 2015 Chinese sports industry output and added value report.
According to the official results, both the Chinese sports industry output and added value increased in 2016.
The overall output of the industry grew 11.1% in 2016 to 1.9 trillion yuan. The added value of the industry is 647.48 billion yuan which is 17.8% more than 2015’s and accounts for 0.9% in the national GDP of 2016.
Among the 11 subsectors that were announced in September 2015, the manufacturing of sports goods and the trading and lending of sports goods are the two biggest sectors, taking up 62.9% and 21.1% of the overall industry output respectively. They also take up 44.2% and 33% of the industry’s total added value respectively, ranking as the top two sectors as well. This is the same situation from 2015 where the two sectors led the way. However, the percentage of both the output and the added value of the manufacturing sector in the overall industry value dropped slightly compared with 2015.
The other sectors all show increase in output and added value compared with 2015. The sports fitness/exercise sector showed a 33.62% growth in added value. The sports events and sports shows sector displayed a 24.52% increase in added value. These two sectors are both important sectors that are encouraged by the government.
People.cn reports that there was a significant increase of 21.7% in the number of organizations operating in the industry, more than 4.4m people work in the industry and the consumption level is close to a trillion yuan. The news outlet comments that with a growth rate far higher than the general economy, the sports industry is likely to become a new driving force in China's overall economic development.
Proofread by William Logsdon