The Chengdu People’s Government recently published “Policies and Measures on Building a World-Renowned Sports City and Advancing the Development of the Sports Industry”, which will be put into effect on January 1, 2020.
The major goal of the policies and measures is to create a better-structured sports industry that will enjoy functioning business activities, rich sports product supplies and strong sports consumption. By 2025, the Chengdu Government aims to cultivate 3 home-grown publicly listed sports companies, at least 10 national level sports industrial bases, 20 provincial level and 50 city level sports industry demonstration projects, with the total value of the sports industry in Chengdu worth RMB150 billion.
The policies and measures detail the tasks that will serve to accomplish those goals, including the following:
●Optimizing the structure of the sports industry.
●Promoting the clustering of sports industry projects.
●Improving public services in the sports industry.
The government will also develop a better funding system that ensures not only dedicated funds from the government, but the use of social capital to grow the sports industry. The government will also provide policy support for the development of professional sports clubs, the integration of the sports industry with other industries, tax benefits, as well as the availability of land and talent.
Reference: Chengdu Government
Proofread by Raymond Fitzpatrick