Core Insights - China is not only a major sports manufacturing country but is also witnessing a rise in its sports service industry, with significant growth in sports service trade expected in 2024 [1][15] - The 2024 China Sports Service Trade Development Report indicates that the total import and export volume of China's major sports services will reach RMB 69.342 billion, an increase of RMB 16.455 billion, or 31.1% year-on-year [1] - The State Council has issued policies to stimulate sports consumption and promote high-quality development in the sports industry, emphasizing the digital transformation of sports and the application of AI technology [1][2] Industry Developments - The number of events serviced by companies has doubled in 2025 compared to the previous year, reflecting a positive outlook for the sports event industry due to supportive policies [2] - Companies are increasingly integrating AI technology into their services, with examples including AI applications in tennis and immersive experiences for users [6][10] - The introduction of new materials and technologies, such as the "non-melting ice" developed by Beijing Ningji New Material Technology Co., is enhancing the capabilities of sports venues [4][12] Market Trends - The sports service trade export volume is expected to reach a historical high in 2024, with a year-on-year growth of 43.5%, indicating a significant expansion in China's sports service trade [15] - The "China Eagle Eye" system, which provides precision data for various sports events, is gaining traction, with notable implementations in major competitions like the National Games [15] - The demand for domestic innovative sports service products is increasing, with companies leveraging technological advancements to address industry challenges [12][13]