Core Insights - The total import and export volume of China's sports service trade reached a record high of 69.342 billion yuan in 2024, marking the highest level in five years and achieving double-digit growth for three consecutive years [1][5]. Group 1: Growth Trends - China's sports service trade has been experiencing rapid recovery and continuous growth since 2022, with a double-digit growth rate for three years in a row [5]. - The export scale and growth rate of China's sports service trade have both seen significant improvements, with the export value reaching a historical high and increasing by 43.5% year-on-year [9]. Group 2: Sector Performance - Sports tourism accounted for the largest share of the sports service trade, with an import and export volume of 57.766 billion yuan in 2024, reflecting a year-on-year growth of 38.1% [12]. - The professional sports competition and performance sector saw a substantial increase, with import and export volume rising by 8.88 billion yuan, representing a year-on-year growth of 79.5% [14].

Core Insights - The total import and export volume of China's sports service trade reached 69.342 billion yuan in 2024, marking the highest level in five years and achieving double-digit growth for three consecutive years [1][5] - The continuous upgrade of residents' sports consumption demand has injected momentum into the development of sports service trade and further enhanced the high-quality development of the sports industry [1] Import and Export Growth - Since 2022, China's sports service trade has maintained a rapid recovery and continuous upward trend, achieving double-digit growth for three consecutive years [5] - The export scale and growth rate of sports service trade have both improved, with the export value in 2024 experiencing a year-on-year increase of 43.5%, the fastest growth in recent years [9] Sports Tourism Trade - In 2024, the import and export volume of China's sports tourism trade reached 57.766 billion yuan, with a year-on-year growth of 38.1%, which is comparable to the growth rate of travel service trade [13] Professional Sports Events - The import and export volume of professional sports competitions and performances increased by 8.88 billion yuan in 2024, reflecting a year-on-year growth of 79.5% [15] - The import and export volume of sports event sponsorship also saw significant growth, increasing by 56.93 billion yuan compared to the previous year [15]

Core Insights - The 2024 China Sports Service Trade Development Report indicates that the total import and export volume of China's sports service trade reached 69.342 billion yuan, marking a year-on-year growth of 31.1% [1][3] - Sports tourism remains the core of China's sports service trade, while areas like event sponsorship and copyright transactions show significant growth potential [1][4] Trade Performance - From 2022 to 2024, China's sports service trade import and export volumes were 19.03 billion yuan, 52.89 billion yuan, and 69.34 billion yuan respectively, with imports at 67.667 billion yuan (up 30.8%) and exports at 1.675 billion yuan (up 43.5%) [3] - The export scale and growth rate of China's sports service trade have both increased, achieving the highest historical export amount and growth rate in recent years [3] Sector Breakdown - In 2024, the import and export volume of sports tourism reached 57.766 billion yuan, accounting for 83.31% of the total [3] - Other segments such as professional sports competitions, event sponsorship, copyright transactions, and internet sports services had import and export volumes of 2.005 billion yuan, 5.633 billion yuan, 3.678 billion yuan, and 260 million yuan respectively [3] Future Outlook - The government aims to cultivate a number of world-influential sports enterprises and events by 2030, with the sports industry expected to exceed 7 trillion yuan in total scale [5][6] - The report emphasizes the importance of event economics, highlighting the unique value of participatory events in China, which differs from the event economics seen in Europe and the U.S. [6][7]

Core Insights - The report released by the General Administration of Sport of China indicates that the total import and export volume of sports services in China reached a record high in 2024, entering a rapid growth phase [1][3] - China's sports service trade exports saw a remarkable increase, with export value hitting a historical peak, rising by 43.5% year-on-year, showcasing the international recognition and competitiveness of Chinese service products [3] Summary by Categories - **Overall Trade Performance** - In 2024, the total import and export volume of China's major sports services reached 69.342 billion RMB, an increase of 16.455 billion RMB, representing a growth of 31.1% compared to the previous year [4] - **Components of Sports Service Trade** - Major components of China's sports service trade include professional sports competitions, sports event sponsorship, sports event copyright transactions, internet sports services, and sports tourism. In 2024, sports tourism trade reached 57.766 billion RMB, growing by 31.9% year-on-year [6] - **Emerging Trends in Sports Services** - The development of sports tourism has become more balanced, with significant growth in categories related to events. For instance, sports event sponsorship accounted for nearly 8% of the total trade in 2024 [8] - **Impact of Global Events** - The concentration of global sports events in 2024 has significantly boosted the enthusiasm of Chinese tourists for overseas viewing tourism. Additionally, the optimization of transit visa exemption policies has enhanced the convenience for international tourists to attend events in China, increasing the attractiveness of events like the F1 Chinese Grand Prix and the Shanghai Masters [11] - **Economic and Cultural Implications** - The event economy has spurred the vigorous development of professional sports events, sponsorship, and copyright transactions, playing a crucial role in promoting domestic sports consumption, driving high-quality economic development, and fostering global economic cooperation and cultural exchange [13]

Macro News - The State Council has approved the implementation of market-oriented reform pilot programs in 10 regions, including Beijing's sub-center, Suzhou, Hangzhou-Ningbo, Hefei urban area, Fuzhou-Xiamen-Quanzhou, Zhengzhou, Chang-Zhu-Tan, nine cities in the Guangdong-Hong Kong-Macao Greater Bay Area, Chongqing, and Chengdu, over the next two years [1] Childcare Subsidy - As of September 10, over 24 million childcare subsidy applications have been submitted nationwide, accounting for approximately 80% of the target population [2] Sports Service Trade - The 2024 China Sports Service Trade Development Report indicates that the total import and export volume of major sports services in China is projected to reach 69.342 billion yuan, an increase of 16.455 billion yuan, representing a growth of 31.1% compared to the previous year [5]

Core Insights - In 2024, China's major sports service trade import and export totaled 69.342 billion yuan, reflecting a year-on-year growth of 31.1% [1] - The import amount reached 67.667 billion yuan, increasing by 30.8%, while the export amount was 1.675 billion yuan, marking a significant growth of 43.5% [1] Summary by Category - The report highlights that the major components of China's sports service trade include professional sports competitions, sports event sponsorship, sports event copyright transactions, internet sports services, and sports tourism [1] - In 2024, the sports tourism service trade import and export amounted to 57.766 billion yuan, growing by 31.9%, underscoring its central role in China's sports service trade system [2] - The increase in sports event sponsorship trade is attributed to the hosting of several major events, the international expansion of Chinese brands, and the attractiveness of the Chinese market to international brands [2] - The report anticipates that with the continuous improvement of economic development and the growing demand for sports consumption among the public, China's sports service trade will maintain a healthy growth trend, becoming a new highlight in the development of service trade [2]

Core Insights - The report released by the General Administration of Sport of China indicates that the total import and export value of China's major sports service trade for 2024 is projected to reach RMB 69.342 billion, an increase of RMB 16.455 billion, representing a growth of 31.1% compared to the previous year [1] - The sports service trade in China has entered a phase of stable growth, characterized by three main trends: sustained high growth in total import and export value, continuous double-digit growth for three consecutive years since 2022, indicating a rapid recovery and ongoing upward trajectory in China's sports service trade [1] Export Performance - In 2024, China's sports service trade export value not only reached a record high but also saw a year-on-year increase of 43.5%, marking the fastest growth rate in recent years [2] Sector Analysis - Sports tourism remains the largest segment, with the import and export value reaching RMB 57.766 billion in 2024, reflecting a year-on-year growth of 31.9%, aligning closely with the 38.1% growth in travel service trade, underscoring its core position in China's sports service trade system [3] - Sports event sponsorship has shown strong growth and market potential, with the share of sports event sponsorship in the sports service trade rising to over 8%. Factors such as the international expansion of Chinese brands and the attractiveness of the Chinese market to international brands have contributed to the increased activity in sports event sponsorship [3] - The overall increase in China's sports service trade import and export value in 2024 marks the highest level in five years, with expectations for continued healthy growth driven by rising economic development and increasing consumer demand for sports [3]

Core Insights - The report released by the National Sports Administration highlights the growth of China's sports service trade, projecting a total import and export value of 69.342 billion RMB in 2024, an increase of 16.455 billion RMB, representing a growth of 31.1%, the highest in five years [1] Group 1: Sports Service Trade Overview - The report categorizes sports service trade into five main areas: professional sports competitions, sports event sponsorship, sports event copyright transactions, internet sports services, and sports tourism [1] - The continuous economic development and increasing consumer demand for sports are expected to sustain healthy growth in China's sports service trade, marking it as a "new characteristic" and "new highlight" in the country's service trade development [1]