The president of China and the Communist Party Chief Xi Jinping’s first five-year plan (2016~2020)“Thirteen-Five Project” aims to revolutionize the economy of China and raise the living standard of the Chinese citizen. Amongst many of the principles of the project, “healthiness of the citizens” was regarded as one of the most important ones.
May of 2016, the launch of the project “Sports Development Thirteen-Five Project”was announced. The core objective of the project is to further develop the scale and the quality of China’s fitness industry; hoping to simulate the economy by expanding the sports industry. In 2014, the State Council of the People’s Republic of China set a goal to expand China’s fitness industry to 5,000,000,000,000 RMB by 2025, roughly 1% of China’s total national GDP. The project attempts to encourage investments and stimulate the industry by simplifying the registry process, giving tax discount and offering other various support terms.
Dalian Wanda Group’s President Wang Jianlin, also indicated in one of his company meeting that “currently, the overall China sport industry worth only around 2~300 billion US dollars, it will have to expand ten times more in order to catch up with the US. Nowadays, China’s awareness for health and sports are growing, and the industry is full of potential. If you can manage to get a degree in the related firms, we can guarantee you won’t have trouble finding a job.
Today, joining gyms and sport clubs are becoming a growing trend, regardless of the downhill economic growth, the stocks of sport related firms remain high.