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Cash boost plan for China's sports industry
By Yan Weijue (chinadaily.com.cn)
Updated: 2010-03-25 17:00
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The government will accelerate the development of China's sports industry by opening more channels for raising funds in the following ten years, according to a document issued by the State Council, nbd.com.cn reports Thursday.
One of the main targets of the sports industrialization is to increase the proportion of income from sport in the gross domestic product (GDP), which currently only accounts for less than one percent.
The document says the sports industry will strengthen cooperation with other industries like the cultural, tourist and electronic information industries to explore markets where a total value of 2 trillion yuan is expected.
At the same time, the government will help the sports industry diversify its financing channels by providing subsidies, supporting sports enterprises to enter capital markets, encouraging private and overseas investment and diversifying the types of sports lotteries.
