Events set to boost Beijing's economy

Beijing State-Owned Assets Management Co is accelerating the integrated development of culture, business, tourism, sports and exhibitions, projecting the municipality to host 1,800 events and attract over 22 million visitors throughout 2026, an official of the company said.

"Standing at the new starting point of the 15th Five-Year Plan (2026-30), we will work with all other parties to continuously develop the multiple benefits of the meetings, conference and exhibitions economy; the sporting events and live performances economy; and the unique advantages that IP creation and development can bring," said Guo Yonghao, general manager of the company.

Guo emphasized that the company aims to achieve a multiplier effect in creating new consumption scenarios, empowering brand cooperation and integrating various sectors to help build Beijing into a national cultural center and an international city at the forefront of the latest shopping and entertainment trends.

As a major participant and promoter of the capital's cultural and sports industries, the company leverages its rich resources to extend the supply chain for large-scale activities. By introducing new leisure and fashion consumption scenarios and vigorously developing the sporting events economy, it is fostering new growth points for service consumption.

The 1,800 events planned for this year include more than 80 large-scale activities with over 10,000 participants each. These initiatives are expected to drive related consumption to about 30 billion yuan ($4.43 billion).

The company's diverse portfolio of renowned cultural and sports brands is playing a crucial role in this integrated development blueprint.

Longfusi, a 600-year-old cultural landmark in the capital, has been combining traditional and trendy cultural and commercial elements since its second phase opened in September 2025. It has established a dynamic cultural ecosystem that integrates specialty commerce, artistic performances, trendy sports and intangible cultural heritage.

The National Stadium, also known as the Bird's Nest, has initiated a group-based development process, transitioning from single-venue operation to a deeply integrated industrial cluster. The Bird's Nest Culture and Sports Group plans to introduce over 65 large-scale events this year.

Beiao Group, a sports event operation platform, is focusing on the coordinated development of sports, technology and culture. The group plans to operate more than 40 events throughout 2026, highlighted by the second World Humanoid Robot Games, which will be held from Aug 22 to 26, showcasing technological charm and innovative vitality.

Meanwhile, the National Aquatics Center is innovating its operations to create a new consumption space centered on sports, performances and micro-vacations. It will host the World Aquatics Swimming Championships (25m) later this year.

To better serve this integrated development, Beijing State-Owned Assets Management Co has launched a plan for business rights cooperation, offering full-chain services ranging from top-tier sporting events and cultural performances to landmark spaces and customized activities to boost brand value and market efficiency for partners.

To build a robust ecosystem, the company has teamed up with multiple institutions and industry leaders. It signed a strategic agreement with the Beijing branch of Industrial and Commercial Bank of China to explore financial support pathways. The cooperative network also expands to China Life Insurance and China Unicom for financial and digital innovation.

renqi@chinadaily.com.cn