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China’s sports business value reached 2.79 trillion yuan (about 382 billion U.S. dollars) in 2018, up 40.6 percent year on year, according to a report released by China Sports Industry Research Institute (CSIRI).
During the period, the production value of China’s sports industry hit 1.04 trillion yuan (about 151 billion U.S. dollars), an increase of 57.1 percent compared with a year ago, the report said.
The market size of sports consumption in China jumped 31.9 percent to 1.75 trillion yuan (about 253 billion U.S. dollars), while revenue from sports cultural events and competitions went up 59.5 percent year on year to exceed 1 trillion yuan (about 146.1 billion U.S. dollars). An increase of 67.3 percent in box-off fees from sports movies in China added up to 2.85 billion yuan (about 414 million U.S. dollars) in 2018, the report added.
The rapid development of internet technology made a great contribution to the rapid growth of the sports and fitness sector, as China’s fitness industry maintained a high-speed growth and its revenue reached 54.65 billion yuan (about 8 billion U.S. dollars) in 2018, up 47.5 percent compared with a year ago, the report said.
The report shows that China’s sports retail and marketing industry maintained stable growth last year, but incurred a deep slump in the first three quarters of 2019.
Online sports retail and marketing took the lead in China with its total revenue reaching 58.52 billion yuan (about 8.58 billion U.S. dollars) in 2018, climbing 27.5 percent year on year. Offline sales achieved an increase of 23.5 percent to 344.27 billion yuan (about 50.52 billion U.S. dollars) in 2018.
The sports equipment manufacturing sector was growing fast with 1.57 trillion yuan (about 229 billion U.S. dollars) in total revenue, used to create spillover effects and promote the upgrading of sports facilities, the report explained.
Real estate and equipment investment, stadium production and operation subindustries all surpassed 100 billion yuan (about 14.6 billion U.S. dollars) in revenue, with equipment increasing at a rate of nearly 10 times that of five years ago.

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