In recent years, the total output value of the sporting goods
industry has increased by about 50 billion yuan a year and the
market share of fitness products is also growing year on year. Some
sports products are branded after world champions, for example
world gymnastics champion Li Ning and world ping-pong champion Deng
Yaping.
Since 1994, when soccer went over to a professionalized,
market-driven approach, it has attracted some six million
spectators every year, generating annual revenue close to 700
million yuan. The seasonal average attendance for CBA professional
basketball games is 80 percent capacity. Volleyball, table tennis,
badminton, and baseball also provide plenty of match products. The
sports entertainment business plays a leading role in the sports
industry, stimulating the development of related industries, such
as sports sponsorship, TV relay, sports media, sports advertising,
and the sports lottery. A government economic forecast indicates
that by 2010, the total value of China's sporting goods industry
will represent 1.5 percent of GDP.
Only two years ago, many Chinese could not distinguish "F1" from
"F4". The 2004 China Grand Prix, however, attracted 260,000
spectators; on September 26, there were 150,000 spectators at the
circuit. It recorded the most spectators at a live event and the
highest box office value of any single championship ever held in
China. All of this indicates the huge potential of China's sports
industry.
