Sports industry a 'MVP' in China

The Chinese sports industry showed significant growth in 2022, with a total scale reaching 3.3 trillion yuan ($461.3 billion), up 5.9 percent year-on-year, according to the report jointly released by the General Administration of Sport of China and the National Bureau of Statistics.

The added value of the sports sector, or the revenue generated from the sports-related businesses, rose to 1.3 trillion yuan - a 6.9 percent year-on-year increase, according to the report.

The sports service industry plays a major role, contributing 918 billion yuan, or 70.1 percent, to the added value of the sports industry, a 0.1 percentage point increase from the previous year.

The manufacturing of sports equipment and related products showed robust performance, contributing 368.6 billion yuan, accounting for 28.2 percent of the added value of the sports industry, a 0.2 percentage point increase from the previous year.

The added value of sports venue facilities construction reached 22.6 billion yuan, accounting for 1.7 percent of the added value of the sports industry, a 0.2 percentage point decrease from the previous year.

Compared with the previous year, sports management activities saw a 16.3 percent increase in added value, sports competition and performance activities rose by 11.7 percent, sports media and information services increased by 11.3 percent, other sports services increased by 8.7 percent, sports fitness and leisure activities experienced a 7.8 percent rise, sports equipment and related product manufacturing increased by 7.3 percent, and sports venue and facility management increased by 7.2 percent.