Sino-French trade's 'Olympic dividend'

Overseas buyers seen at the sporting goods section at Yiwu International Trade City in Yiwu, Zhejiang province. SHI BUFA/FOR CHINA DAILY

While athletes from around the world sport numerous medals at the ongoing Paris 2024 Summer Olympics, Chinese manufacturers are also emerging victorious, with a surge in sporting goods orders boosting sales revenue and enhancing companies' brand recognition.

This trend, noted by exporters and market analysts on Monday, underscores the global reach and impact of the Olympics beyond sports alone.

As foreign consumers increasingly focus on fitness and sports-related goods and services, alongside the excitement of global sporting events, these factors will continue to drive China's exports of sportswear and sporting goods around the world this year, said Liu Ying, a researcher at the Chongyang Institute for Financial Studies of Renmin University of China.

In the first half, East China's Shandong province exported sporting goods worth 6.46 billion yuan ($907 million), representing a year-on-year increase of 24.3 percent. The province's exports in this category to France alone amounted to 62.27 million yuan, marking a 44.6 percent increase on a yearly basis, Qingdao Customs said.

South China's Guangdong province also saw its exports to France, including industrial products and sporting goods, surge 11.5 percent year-on-year to 38.85 billion yuan over the period, said Guangzhou Customs.

In a workshop owned by Heyuan OT Composite Co in Heyuan, Guangdong, workers are busy packing and sealing finely crafted badminton rackets. These rackets will soon be shipped to markets in the European Union, the United States and Brazil.

"Our orders from European countries have jumped this year, with orders from France seeing substantial growth. Our production schedule is already fully booked for the entire year," said Huang Yuwen, the company's vice-president.

Huang said the firm's exports to France exceeded 35 million yuan in the first half, representing a 40 percent year-on-year growth. The company's exports to France are expected to exceed 65 million yuan for the entire year.

"Thanks to the increased enthusiasm in the global sports markets, our exports have seen notable growth this year," said Huang Huang, vice-president of Nantong Tieren Sports Goods Co, a fitness equipment manufacturer located in Nantong, East China's Jiangsu province.

"We anticipate that during and after the Paris Olympics, fitness enthusiasm among sports fans worldwide will also be spurred, and sales prospects of our products will continue to improve," said Huang.

Tieren Sports exported various fitness equipment worth 173 million yuan to foreign markets such as Belgium, Spain and Colombia in the first half, up 43.1 percent year-on-year.

Jiang Yiyi, deputy dean of the sports, leisure and tourism school at Beijing Sport University, said that apart from sports-related merchandise, many Chinese manufacturers have enjoyed the benefits of the "Olympic dividend".

The Paris Olympics have significantly boosted local demand for items such as refrigerators, washing machines and various daily necessities, catering to both participants and spectators, said Jiang.

Thanks to their complementary trade structure and enhanced Sino-French business ties, China's exports to France grew 3.5 percent year-on-year to 150.48 billion yuan in the first six months, said the General Administration of Customs.

In addition to passenger aircraft, water treatment equipment, chemicals and pharmaceuticals, France's exports to China also feature fashion, agricultural and energy infrastructure-related products.

China mainly exports construction machinery, buses, manufacturing equipment, steel, electronics, textiles, garments and household appliances to the European country.