Renub Research – Technology News Analysis China Professional Sports Market Will Reach CNY 1.6 Trillion by 2025. The scope of Professional Sports industry in China is bright as Chinese government and domestic companies like to see China become global sports powerhouse. Many of the Chinese company have given the positive response for buying global sports team, market companies and other related assets. Investors are also playing major role for domestic sports industry as they are interested to buy local teams and launching sports programming venture. China States council has already made a framework plan for building a CNY 5 Trillion domestic sports industry by 2025. Under this framework, Chinese Sates Council will eliminate barriers that setback the industry's rapid development, encouraging private capital to invest in building facilities, and providing related products and services Related Report: China Sports Market (Sports Apparel, Sports Footwear, Sports Equipment) & Forecast According to a venture capital firm eCapital Corp., China's professional sports industry will grow at a compound annual rate of more than 20 percent from 2016 to 2025 and increase to CNY 1.6 Trillion annual revenue by 2025. Broadcasting rights fees for professional sporting events is one of the major sources for this industry. State own broadcaster China Sports Media Ltd, has successfully bid worth CNY 8 Billion for the broadcasting rights to air Chinese Super League games from 2016 to 2020.
Š Renub Research LLP
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