In the final quarter of 2014, the State Council issued the "Some Opinions on Accelerating the Development of the Sports Industry and Promoting Sports Consumption" (referred to as the "Opinions"), which aimed to expand the supply of sports products and services and promote the sports industry as a key driver for economic transformation. The document emphasized elevating the national fitness program to a national strategy and supporting the sports industry as a green and emerging sector. Football, basketball, and volleyball were identified as key areas to accelerate the development of widely used, high-focus, and large-market sports projects. By 2025, the total scale of the sports industry is expected to exceed 5 trillion yuan, becoming a significant force for sustainable economic and social development.
Recently, in China, Wanda Group announced its acquisition of Switzerland's Infront Sports Group for 1.05 billion euros. Globally, the sports industry’s output exceeds $1 trillion, with top countries like Switzerland, the United States, and Finland leading in terms of GDP contribution. The U.S. sports industry grows at twice the rate of the automobile industry, highlighting its potential and significance.
China is currently undergoing an economic transition, and the sports industry plays a vital role in improving the economic structure and boosting growth potential. In developed countries, the sports industry is a major pillar, with a large scale and rapid annual growth. However, China’s sports industry still accounts for a small percentage of GDP, indicating substantial room for growth. As residents' incomes rise and living standards improve, demand for sports and cultural consumption continues to grow, revealing vast potential in the sector.
With strong support from the State Council, the Chinese sports industry is set for significant development. The sports industry encompasses all sectors providing sports services, including sports events, advertisements, athlete transfers, and related industries such as sportswear, equipment, food, and souvenirs. Among these, sportswear, equipment, food, and souvenirs have a particularly high demand for cardboard packaging. This trend is expected to further accelerate as the sports industry enters a new phase of growth.
According to Cheng Hang, founder and chairman of Hu Hang, the "Opinions" represent positive news for the entire sports industry. He believes that China’s sports industry will enter a new era, greatly promoting market expansion. With favorable conditions, sports packaging is also expected to experience another period of growth.
For more details, please refer to the official website of China Packaging Information Network.
[Note] China Packaging Information Network is the official website of China Packaging News and China Packaging Industry Magazine.
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