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Innovation bolsters sports industry growth

( chinadaily.com.cn )

Updated: 2018-03-13

ANTA certainly is not the only one set on achieving growth via innovation. Fujian, where the company is based, also strives to be a world-famous sports goods maker by stepping up its research and innovation capabilities in the industry.

The province plans to set up R&D institutes and detection centers, in the coming years, and cultivate three to five brands with wide international recognition, according to government guidelines.

On top of ANTA, other renowned sports manufacturers in Fujian still include 361 Degrees, Xtep, Peak Sport Products and Septwolves.

By 2020, the sports industry in Fujian should be generating 380 billion yuan ($57.4 billion) in revenue, which will make the province home to the largest sports goods manufacturing base in the country.

On a larger scale, China's sports industry has grown rapidly over the past years, with a total output of 1.9 trillion yuan in 2016, according to figures jointly released by the General Administration of Sport and the National Bureau of Statistics in January.

By 2025, the scale of the market is expected to reach 5 trillion yuan, according to a government plan.

As for updating of the country's sports industry as a whole, Ding called for the establishment of a national sportswear R&D platform, reduction of IP protection costs and more efforts in talent-cultivation.

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