BEIJING (BERNAMA-XINHUA) – The total output of China’s sports industry reached CNY3.6741 trillion (approximately USD503 billion) in 2023, with an added value of CNY1.49 trillion, according to data released by the National Bureau of Statistics and the General Administration of Sport of China on Tuesday, reported Xinhua.
Based on the fifth national economic census results, the sports industry accounts for 1.15 per cent of the country’s gross domestic product, marking an increase of 0.07 percentage points compared to the previous year.
In 2014, China set an ambitious target to expand the sports industry’s total output to CNY5 trillion by 2025.
A closer look at the internal composition revealed that the added value of the sports services sector stood at CNY1.08 trillion in 2023, accounting for 72.7 per cent of the sports industry’s added value and reflecting a 2.1 percentage point increase from the previous year.
The added value of sports goods and related product manufacturing reached CNY383.2 billion, contributing 25.7 per cent of the industry’s total but representing a 2.1 percentage point decrease year-on-year.
Meanwhile, sports facility construction maintained its added value at CNY23.4 billion, accounting for 1.6 per cent of the total, unchanged from the previous year.
