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Sports industry in Ningbo experiencing rapid growth

chinadaily.com.cn| Updated:  August 29, 2019 L M S

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Ningbo now is home to more than 4,300 sports companies, with the total scale of the industry reaching 41.5 billion yuan. [Photo/ cnnb.com.cn]

The sports industry in Ningbo, East China's Zhejiang province, has been experiencing rapid growth in recent years.

Official data shows that the city's sports industry has maintained an average annual growth rate of 15 percent over the past four years. Ningbo now is home to more than 4,300 sports companies, with the total industrial output reaching 41.5 billion yuan ($6.19 billion).

In 2018, the sales of sports lottery tickets topped 2.78 billion yuan in Ningbo, and from January to June this year, the figure was 1.055 billion yuan, generating 13.7 million in tax revenue.

The strong results are largely due to the efforts of local authorities in supporting the industry's development.

The government has rolled out a slate of policies and measures to spur industrial growth and consumption in the sports sector.

Over the past four years, the local government has allocated funds totalling 46.53 million yuan to stimulate the development of fitness services, recreational sports, and garment manufacturing.

The city has also made great strides in developing local sporting events. Over the past four years, Ningbo has held nearly 200 sporting events at the national level or above, including the World Volleyball League, Asian Weightlifting Championship and Ningbo international Marathon.

Ningbo is now home to two national sports industry demonstration bases and one national sports tourism demonstration base.


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