The third China (Guangzhou) Sports Industry Innovation Conference, attended by nearly 1,000 sports officials, entrepreneurs, and experts, was held on Friday in the Yuexiu district of Guangzhou, Guangdong province, exploring the path of innovative development.

The third China (Guangzhou) Sports Industry Innovation Conference is held in Guangzhou, Guangdong province, on May 19, 2023. [Photo courtesy of China Interactive Sports Technology Invention Co., Ltd.]

The conference, themed "New Business Forms, New Integration, New Consumption," explored the development models of the sports industry in new environments, situations, and amid changing policies. It emphasized the importance of seizing developmental autonomy, enhancing core competitiveness, and accelerating innovative growth in sports consumption. 

Additionally, participants examined the impact of the sports industry on economic development in the new era and fostered the exchange of ideas. The conference also promoted innovative development methods, explored growth opportunities, refined policy perspectives, and facilitated integration across formats to drive the sports industry forward.

In 2023, Guangdong's sports market demand is recovering, with the sports industry chain and supply chain accelerating restoration, according to Xu Guoxun, an official of the Sports Bureau of Guangdong. He highlighted the positive signs of stabilization and recovery in the overall scale and sports consumption in the province, emphasizing the significant opportunity for high-quality development in the sports industry across Guangdong, Hong Kong, and Macao. 

Wang Ping, deputy director of the sports equipment center of the General Administration of Sport of China, highlighted the rapid rebound of the sports market this year, with nationwide sports events and activities driving significant growth in sports consumption. 

"The sports industry is vibrant and approaching a new development peak. The General Administration of Sport has prioritized the construction of 40 national pilot cities for sports consumption and recognized national-level specialized enterprises and sports manufacturing champions in the sporting field. By focusing on the supply side, we aim to enhance and upgrade sports consumption quality and promote high-quality development in the sports industry," Wang said.

Representatives of various sports business entities hold hands as they reach cooperation agreements during the third China (Guangzhou) Sports Industry Innovation Conference held in Guangzhou, Guangdong province, on May 19, 2023. [Photo courtesy of China Interactive Sports Technology Invention Co., Ltd.]

Wang also acknowledged the development achievements of the sports industry in Guangzhou’s Yuexiu district as a role model over the past three years. He highlighted how the district's well-established infrastructure and its dedicated sports industry support policies formulated by the district government had paved the way for the development of the sports industry.

"Yuexiu district, with its abundant high-quality urban public resources and optimized business environment, is an ideal place for entrepreneurs and businesses," said Wang Yongfu, deputy district mayor of Yuexiu district. The establishment of the Yuexiu National Sports Industry Demonstration Base, completion of the Ersha Island Sports Park, settlement of influential sports enterprises, and the formation of a think tank composed of sports industry experts to showcase the district's "old city with new vitality" and remarkable achievements. These have contributed to the industrial upgrading of the core area and promoted the high-quality development and innovation of the sports industry, driving regional sports economy development.

Yang Weiguo, director of Yuexiu District Culture, Radio, Television, Tourism and Sports Bureau, provided an update on the progress of the Yuexiu National Sports Industry Demonstration Base. He emphasized the role of Guangzhou's financial core area in the promotion of the "Sports Plus" development vision, integrating it with culture, commerce, tourism, and finance to facilitate the bidirectional integration of the industrial chain and innovation chain.

A parent-child sports event is held at Ersha Island Sports Park during the third China (Guangzhou) Sports Industry Innovation Conference held in Guangzhou, Guangdong province, on May 19, 2023. [Photo courtesy of China Interactive Sports Technology Invention Co., Ltd.]

During the conference, Peng Weiyong, vice president and secretary-general of the China Sports Foundation, discussed promoting sports consumption innovation and unleashing its potential. Bao Mingxiao, a professor at Beijing Sport University, and Tan Jianxiang, a professor at the School of Physical Education and Sports Science at South China Normal University, delivered speeches on the future development direction of the sports industry, upgrading sports consumption scenarios, promoting the construction of regional characteristic industrial platforms, and empowering the regional sports industry via the 2025 National Games to be held in Guangdong-Hong Kong-Macao Greater Bay Area. Representatives from enterprises such as Huawei, Unilumin Sports, Double Fish, and One Sports also shared their insights and innovative achievements.

A total of 18 enterprises and organizations signed deals during the sports conference, while several companies showcased their products. In addition, the conference featured the Huao Qianfang Parent-child Sports Games, a family-friendly event jointly organized by China Interactive Sports Technology Invention Co., Ltd. and China TransInfo Technology Co., Ltd., held at Ersha Island Sports Park.

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