China's real estate companies are looking forward to having a slice of a "booming winter sports market that followed Beijing's joint bid with neighboring Zhangjiakou for the 2022 Winter Olympic Games," according to XINHUA. The past decade saw China's winter sports market "attract enormous investments and about 400 skiing resorts built all over the country."
Leading developers such as China Vanke and Dalian Wanda Group "have shifted their focus to the newly rising tourism real estate and ski resorts, after Beijing announced a joint bid with Zhangjiakou." Wei Qinghua, one of the top advisors in the skiing industry, said, "With China's economy developing, the leisure sports industry including skiing has been speeding up. North China boasts of natural snow resources and millions of people are willing to have their try on snow. The industry might not be very profitable now, but in the long run, the ski industry is definitely lucrative."
China Vanke CEO Yu Liang said that the initiative "will harvest remarkable economic and social benefits." Yu: "And we are hoping to build a world class ski resort and inspire more Chinese to take to the sport. Now the country is bidding for the Winter Olympics, It's part of the Chinese Dream" (XINHUA, 3/21).
