China's sports industry hits 465 billion USD in 2022

BEIJING, Dec. 28 (Xinhua) -- The total scale of sports industry in China reached 3.3 trillion yuan (about 465 billion USD) in 2022, a year-on-year increase of 5.9 percent, according to the State General Administration of Sport (SGAS).

Meanwhile, the value added of sports industry amounted to 1.3 trillion yuan, representing an increase of 6.9 percent from the previous year.

Gao Zhidan, head of the SGAS, revealed these figures during a work report at the annual National Sports Bureau Directors Conference on Thursday.

Over the past several years, a slew of policies have been released to boost sports consumption and the development of the sports industry.

According to China's 14th Five-Year Plan (2021-2025), the total production value of China's sports industry is set to hit 5 trillion yuan by 2025.