China’s sports industry could be "about to come of age," as "growing public enthusiasm" for participatory athletic events coupled with the government’s efforts to promote sport awareness are seen as "powerful catalysts for a sector still at an early stage of development by global standards," according to Josh Ye of the SOUTH CHINA MORNING POST. In a national strategy "spearheaded" by the General Administration of Sport, China plans to build 100 towns dedicated as centers of sporting excellence for various disciplines in coming years. Bank of China Int'l published a report led by analyst Wang Xin saying that the sports industry has a "bright outlook." Xin said, "In comparison, China's number of fitness venues is only 1/27th that of the U.S." Xin noted that China's nationwide sports industry, worth 1.5T yuan last year, is "on track" to reach 5T yuan ($740B) by '25. Spending on sport-related entertainment goods and services grew 17.1% in the first half of the year, outpacing 10.4% growth in broad consumer spending during the period. Stadium builder Lander Sports Development Co., which in April "scrapped a plan" to buy Premier League club Southampton, said last month that it signed an agreement to develop a 4B yuan ($594M) sports town with the city of Pengzhou in Sichuan province. Palm Eco-Town Development Company, a principal sponsor of EPL side West Bromwich Albion, also announced last month that it was "looking to build" five or six “West Bromwich Albion Sports Towns” in Guizhou Province. Some question whether the projections on the sport industry’s growth are "over-hyped." Among the 43 listed sport companies in China, "only nine have seen share price gain this year, while nine have been suspended from trade" (SCMP, 7/27).
