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China aims to boost winter sports industry with 1.5 trillion yuan goal by 2030
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Reuters Events SMR and Advanced Reactor 2025
China aims to boost winter sports industry with 1.5 trillion yuan goal by 2030
by Clarence Oxford
Los Angeles CA (SPX) Nov 08, 2024

China has launched a strategic plan to drive growth in its ice and snow economy, with winter sports, tourism, and equipment manufacturing at the forefront, targeting a 1.5 trillion yuan ($211 billion) industry valuation by 2030.

Building on its 2015 commitment to engage 300 million citizens in winter sports - achieved with 346 million participants by 2021 - China now focuses on addressing remaining gaps in skilled labor. "We still face a shortage of skilled talent because we started with a weak foundation, and development takes time," said Wang Xueli, a professor at Tsinghua University.

The initiative emphasizes youth development, with elementary and middle schools encouraged to incorporate winter sports into physical education. Plans include creating a national youth competition framework across grade levels and fostering youth teams for key winter sports. Additionally, China aims to boost international engagement through outbound training and competitions for national teams.

Regions like Beijing, Inner Mongolia, Heilongjiang, and Xinjiang will be central to this expansion. These areas will benefit from new training facilities, elite winter sports hubs, and more international events. The strategy also includes establishing three to five globally recognized winter tourism destinations, positioning China as a top global spot for winter tourism.

"The winter season is coming, and local governments are eager to seize the opportunity," commented Fu Baosen, a professor at Shenyang Sport University. "This new policy offers significant growth potential for these regions."

China's winter tourism already saw notable growth, with a 38 percent increase in ice and snow tourists and a 50 percent rise in revenue during the last season, according to the China Tourism Academy.

A central feature of the strategy is its focus on building a "full industry chain," as noted by Wang Xueli. The policy aims for integration across winter sports, tourism, equipment manufacturing, and cultural promotion, creating a cohesive industry that spans from production to services. "It includes everything from manufacturing to services," Wang explained.

Financial measures in the plan include enhanced credit access for winter sports businesses and incentives for companies to go public. The government seeks to develop leading companies, globally recognized brands, and specialized small businesses within the winter sports sector.

At the community level, local authorities are encouraged to transform public spaces, such as parks and plazas, into winter sports venues. Old factories and commercial areas will also be repurposed to make winter sports accessible to the public.

"China's winter sports industry has seen rapid growth. Now, the focus is on upgrading the sector for high-quality, sustainable development," said Wang Yuxiong, director of the Sports Economics Research Center at the Central University of Finance and Economics.

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