Chinese Sports Sector Expects To Reach $1.1T By '25

The Chinese sports sector is expected to expand to 7T yuan ($1.1T) by '25, "2 trillion more than the central government's 5 trillion target," according to He Lanying of YUTANG SPORTS. That is according to the local governments, after they reported their goals for their sports sectors. Earlier this month, a senior sports official claimed that "China’s sports industry is expected to account for 0.7 percent of GDP" with an added value of 400B yuan ($61.7B) in '15 and by '20, the total business scale of the Chinese sports industry is expected to exceed 3T yuan ($463B). But with the boom in China's Sports industry, "there are also concerns." Alibaba Sports Group CEO Zhang Dazhong said, "It takes time to reach perfection and it can only happen gradually. ... Only when the government hands over control to the sports industry to market itself, and makes nationwide fitness a core objective, can we really reach the essence of sport" (YUTANG SPORTS, 12/21).