The total output of China's sports industry reached 3.6741 trillion yuan (approximately 503 billion U.S. dollars) in 2023, with an added value of 1.49 trillion yuan, according to data released by the National Bureau of Statistics and the General Administration of Sport of China on Tuesday.

Based on the fifth national economic census results, the sports industry accounts for 1.15 percent of the country's GDP, marking an increase of 0.07 percentage points compared to the previous year.

In 2014, China set an ambitious target to expand the sports industry's total output to five trillion yuan by 2025.

A closer look at the internal composition reveals that the added value of the sports services sector stood at 1.08 trillion yuan in 2023, accounting for 72.7 percent of the sports industry's added value and reflecting a 2.1 percentage point increase from the previous year.

The added value of sports goods and related product manufacturing reached 383.2 billion yuan, contributing 25.7 percent of the industry's total but representing a 2.1 percentage point decrease year-on-year. Meanwhile, sports facility construction maintained its added value at 23.4 billion yuan, accounting for 1.6 percent of the total, unchanged from the previous year.  

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