Core Insights - The Chinese government is implementing a series of policies to stimulate sports consumption and promote high-quality development in the sports industry [1][3] - The sports industry in China has shown rapid growth, with the added value reaching 14,915 billion yuan in 2023, accounting for 1.15% of GDP, and an annual growth rate of 11.6% from 2021 to 2023 [3][4] - New consumption trends are emerging, with events, sports training, and fitness activities becoming popular, alongside niche sports like frisbee and rock climbing [4][5] Sports Consumption Market Growth - The sports consumption market is expanding quickly, with a 22.2% year-on-year increase in sales of sports and entertainment products in the first half of the year [3][4] - Key events in regions like Fujian and Sichuan have driven average consumption exceeding 30 million yuan per event [3][4] Consumption Structure Optimization - The structure of sports consumption is evolving, with a focus on events, training, and leisure activities [4][5] - The 2024-2025 winter season is expected to see 256 million visitors to ski resorts, a 13.5% increase, with in-resort spending reaching 78.613 billion yuan [4] - Online outdoor sports consumption is projected to reach 200 million participants and over 300 billion yuan in total spending in 2024 [4] Integration of Sports with Other Industries - The integration of sports with tourism, commerce, education, and technology is deepening, with initiatives like "travel with events" boosting local economies [4][6] - In Sichuan, sports consumption reached 118 billion yuan in the first seven months of the year, up 8.3% year-on-year [4] - Jiangxi's initiatives to bring sports events into tourist areas have led to a 9.17% increase in sports consumption, totaling nearly 55 billion yuan [4] Promotion of Event Economy - There is a growing enthusiasm for sports consumption among the public, with various events driving consumer engagement [5][6] - The government plans to enhance policy support, improve event experiences, and promote the integration of events with other sectors [5][6] Enhancement of Sports Equipment Supply - The sports equipment industry is expanding, with over 63,000 production enterprises and an industry output value increasing from 1.12 trillion yuan in 2015 to over 1.5 trillion yuan [7][8] - The government aims to support the development of intelligent and personalized sports equipment, integrating new technologies like AI and IoT [7][8] International Cooperation and Brand Development - Efforts are being made to strengthen international cooperation in the sports equipment sector and to develop well-known brands [8] - The government encourages participation in international platforms to promote Chinese sports equipment globally [8]