Country's sports industry to get huge boost by 2025

China aims to triple the value of its professional sports industry to 2 trillion yuan ($290 billion) by 2025, while the country strives to build 100 prestigious sporting events and 100 domestic brands with independent intellectual property rights.

The goal was revealed in a guideline released on Friday by the State Council, China's Cabinet, to accelerate the development of the sports and performance industry.

The industry plays a vital role in unleashing consumption potential, improving the quality of people's lives and creating new drivers of economic growth, the document said.