AquaBloom Sports Group (ABSG) will continue to work to introduce world-class sports IP and resources to help with China’s policy development direction in Sports industry

30/09/2019

On September 17, Beijing time, the China General Office of the State Council issued the " Development Measures on promoting a high-quality development of the fitness and sports level of consumption in China’s sports industry" (hereinafter referred to as the "Development Measures").

The “Development Measures” states that the sport industry plays an irreplaceable role in the development of high standard and sustainable of living for the general public in China. Guided by president Xi and his desire in bringing a new era of socialism featuring unique characteristics, we must consolidate the influence of the sports industry with strong market activation strength and trigger buying motive, in order to promote the sport industry in become one of the core support in national economy growth and a new living style for all citizens of China.

The " Development Measures " proposed 10 aspects of policy initiatives:

1, Deepen the reform of the "distribution" and initiate the development potential of sports industry. This will be done by the reform of the deeply rooted national associations of different sports, formulate national guidelines for hosting sports events, promote the restructure of public sports venues and facilities, and provide extensive public resources to subsidize newly introduced sporting events.

2. Improve industrial policies and optimize the development environment. Implement the existing tax and fee policy, improve the sports intangible assets assessment system, and increase financial support.

3. Promote sports consumption and enhance development momentum. Optimize the sports consumption environment, introduce incentives for consumption policies, carry out pilot programs to promote sports consumption, implement national fitness exercises, and develop the implementation of student athletic standard evaluation system.

4. Sport facility construction standards and increase the factor of supply chain. Optimize the supply of land for the sports industry, encourage the utility of existing facilities, green spaces, municipal land to transform and build sports facilities, implement the stimulation of promoting a nationwide fitness program, discover potential of developing exiting school sport facilities and establish a sports stadium security level evaluation system.

5. Strengthen platform support and expand market participants. Research and establish a local sports industry investment fund guided by the government to fund and participate in social capital and subsidy to support the creation of a development platform, in order to promote the formation of social sports organization.

6. Improve the industrial structure and enrich product supply. Enhance the proportion of sports service industry, support the innovation and development of sports goods manufacturing industry, promote the professionalization of sports events, support the development of inter-school sports events, accelerate the development of winter sport and "Internet + sports" industries.

7. Optimize industrial layout and promote coordinated development. Via creating a growth pole in the sports industry, differentiate the development of regional sports industries, and promote series of sports events such as marathons and bicycles in countries along the Belt and Road.

8. Implement the "Sports Plus" initiative to promote integrated development. Promote the integration of physical medicine, carry out sports to promote health guidance, encourage integration of sports and tourism, implement sports tourism boutique demonstration projects, accelerate the integration of sports and education, and introduce professionals and institutions to provide guidance for school sports extracurricular training and competition.

9. Strengthen demonstration and lead the building of a carrier of development. Encourage the construction of sports service complexes, sports and leisure towns, strengthen the construction and management of sports industry bases, and explore the construction of sports industry innovation pilot zones.

10. Consolidate the industrial bases and improve service levels. It is necessary to strengthen the training of talents in the sports industry and improve the statistical system of the sports industry.

Finally, the " Development Measures" require all relevant departments to strengthen the implementation of responsibilities and strengthen coordination. All regions should establish relevant coordination mechanisms, strengthen policy linkages, and pay attention to ideas, responsibilities, measures, and effectiveness。