The Government of Liaoning Province established the Liaoning Province Sports Industry Group Limited on July 27 and organized a launch ceremony for the new company in Shenyang on July 31. 

The company is registered with a capital of CNY3.3bn and is wholly invested by State-owned Assets Supervision and Administration Commission of Liaoning Provincial Government. It integrates the assets of 10 governmental organizations and companies, including the Provincial Public Fitness Activities Center, the Provincial Sports Lottery Sales Center, the Provincial Sports Funds Management Office and seven other companies such as the Provincial Sports Industry Company. Five training bases of the Provincial Sports Bureau have also been integrated into this new venture. 

With these combined resources and assets, the newly founded sports group is going to develop business in eight sectors: operation of sports venues and sports events, sports lottery sales, production and sales of sports equipment and sporting goods, sports education and sports training, sports nutrition and health, investments and assets management, sports communication and media, and finally, the development and operation of sports commercial complexes. 

The Vice General Manager of the Sports Group, Shi Lixin, said that the group was an initiative of the provincial government to grow and expand the Liaoning Province sports industry. A vision for the Liaoning Province Sports Industry Group Limited is to become a modern comprehensive business group combining investment, construction and operation businesses in five years. 

Reference: Huashang Chenbao

Proofread by Raymond Fitzpatrick