Chengdu have announced their proposals to develop a sports industry that will be worth RMB 150 billion, but how are they going to reach their goals?

Chengdu will put in a lot of effort to grow more popular sports that see great participation by people, including football, basketball, table tennis, badminton, swimming and running. They will also accelerate the growth of cycling, tennis, baseball, softball, winter sports, water sports, mountain sports and eSports, which are emerging fast and are quickly attracting more and more people.

Chengdu will seize the opportunity of landing more sports events in the city to grow fitness and recreation services, stadium services, sports agencies and sports media. Together with the support provided by sports financing, sports talent and sports technologies, Chengdu will create a sports industry ecology.

To ensure funding for the sports events, Chengdu will set aside a dedicated fund and encourage companies to contribute. For well-known international sports events, the government will provide an allowance of no more than RMB 8 million for the organizers. For promising highly marketable sports events developed by Chengdu that have international influence, the organizers will receive no more than RMB 5 million. To cater for well-known national sports events hosted by Chengdu, the organizers will receive no more than RMB 3 million. In principle, the grant given by the government should not exceed 50% of the cost of organizing the event.

Reference: Sichuan News

Proofread by Raymond Fitzpatrick