On March 23, Yunnan Investment Group (YIG) invested CNY1billion (USD158.4m) to set up the Yunnan Sports Industry Investment Company Ltd.

As a wholly owned subsidiary of the Group, the new business has become the first and only provincial sports industry company in Yunnan Province.

According to the overall plan, YIG is expected to lead the sports industry in Yunnan by combining sports with other industries including culture, education, tourism, health, real estate, media, information and finance. In addition to this, the new sports company will take advantage of the geography and climate throughout Yunnan, aiming to create special sports industry clusters for sports entertainment, sports adventure, sports competition and training, mountain climbing and self-driving tours.

As YIG President Liu Yong said, the establishment of the sports investment company means their recognition for the potential of Yunnan sports market as well as important part of their reforming strategy.

 “We will commit ourselves to sports scientific development in the establishment of a special sports industry and the combination of government departments and commercial businesses in Yunnan.” Yang Huize, General Manager of the Yunnan Sports Industry Investment Company, commented, “We are looking to provide support for overall fitness, competitive sports and youth sports in the province.”

Source: ifeng

Proofread by William Logsdon