Core Viewpoint - The sports industry has become a significant driver of economic growth in China, with an average annual growth rate exceeding 10% over the past five years, and is on track to become a pillar industry by increasing its GDP contribution to 1.15% in 2023 [1][4]. Group 1: Sports Industry Growth - The sports industry's added value has grown at an average rate of 11.6% since the start of the 14th Five-Year Plan, with the ice and snow industry projected to grow from 381.1 billion yuan in 2020 to 970 billion yuan by 2024, reflecting a 26.3% annual growth rate [1][4]. - The total sports consumption in 40 pilot cities has increased by over 100 billion yuan from 2020 to 2023, indicating a continuous release of sports consumption potential [1]. Group 2: Event Economy - Major events like the "Su Super" and "Village Super" have significantly boosted local economies, with 511 monitored events in seven regions generating over 16 billion yuan in related consumption in the first half of the year [4][5]. - The Hangzhou Asian Games is expected to drive consumption growth in surrounding areas by over 40%, showcasing the strong impact of large-scale events [5]. Group 3: Sports Services and Manufacturing Transformation - The proportion of sports services in the sports industry's added value has increased from 68.7% in 2020 to 72.7% in 2023, reflecting a shift towards service-oriented growth [9]. - The number of national-level "specialized, refined, distinctive, and innovative" small giant enterprises in the sports sector has more than doubled to 146 by the end of 2024, indicating a significant upgrade in the sports manufacturing sector [9][10]. Group 4: Consumer Behavior and Market Trends - The rise in sports service consumption includes diverse activities such as tennis lessons, skiing, and attending events like "Su Super," indicating a shift from traditional sports goods purchases to a broader range of sports-related services [10]. - The number of running events is projected to increase from 699 to 749, with participant numbers rising from 6.05 million to 7.05 million between 2023 and 2024, highlighting the growing engagement in sports events [11].

Core Insights - The sports industry in China has shown a steady growth, with an average annual growth rate exceeding 10% over the past five years, reaching a total scale of 3.67 trillion yuan in 2023 [1][2] - The contribution of the sports industry to the national economy is increasing, with its value added growing at an average rate of 11.6%, accounting for 1.15% of GDP in 2023 [1][2] - The ice and snow industry is experiencing rapid growth, projected to reach 970 billion yuan by 2024, with an annual growth rate of 26.3% [1][2] Industry Structure and Quality - The structure of the sports industry is improving, with the sports service sector, led by competition and performance industries, increasing its share of value added from 68.7% in 2020 to 72.7% in 2023 [2] - The number of national-level specialized and innovative "little giant" enterprises in the sports manufacturing sector is expected to reach 146 by the end of 2024, more than doubling since 2022 [2] - High-tech products such as carbon fiber bicycles and smart fitness equipment are becoming more prevalent in households, enhancing innovation and competitiveness in the sports sector [2] Outdoor Sports Development - The outdoor sports industry is projected to see approximately 200 million online consumers and a total consumption exceeding 300 billion yuan by 2024 [2] - The number of fitness trails has reached 171,800, with a total length of 407,500 kilometers, and the number of flying and automotive camps has reached 2,055 [3] - Water sports participation is expected to exceed 120 million people, with an industry scale of 438.6 billion yuan, reflecting an 18.7% year-on-year growth [3] Event-Driven Economic Impact - In the first half of the year, key sporting events in seven provinces generated over 16 billion yuan in related consumption, averaging over 30 million yuan per event [4] - The government plans to develop policies to enhance event economies, improve event supply, and strengthen the coordination between events and the industry to stimulate consumption and economic growth [4]