CRI听力:Tapping the Goldmine of China's Sports Industry

Over the years, China's sports industry has caught the eyes of many, not only those home-grown sportswear and equipment enterprises, such as Anta and Li Ning, which is named after its founder, a former world Champion gymnast, but also outside investors.

The US sports giant Nike is just one multi-national company that has benefited from the ever growing market. Currently, Nike is the number one sports brand in China, and China is the company's second-largest market behind the United States.

Mark Parker, President and CEO of Nike Inc, says his company has established a mechanism to invest in an athletes' potential and share the brand influence and commercial value of the athlete over the long term.

"We have a network of coaches, sports experts, athletes, we constantly look around the town … we have a sense that the young athletes are coming up and quite successful and have all sorts of potential, so we constantly look at talents and evaluate potential of young athletes."

Many of Nike's investments have proved to be rewarding, as in the case of Chinese tennis player Li Na, who they signed 15 years ago.

This year has been particularly fruitful for Li Na. In June, the 29 year old became the first Asian player to win a grand slam after beating Francesca Schiavone in the French Open. That followed a historic second place she took at the Australia Open in January.

Li Na attributes her professional and commercial success to both the hard training years at the National Tennis Team, and the effective marketing of her management company.

"Not only does that need many years of strict training, it also requires effective marketing and management. I wouldn't be who I am today without either of those two factors. "

Chen Shaoaofeng, deputy director of the Sports Industry Research Center at Peking University, says a series of major international sporting events, such as NBA and F1, as well as some global big-time sports management conglomerates have come to China. They have provided expertise in the business of sports management.

"The overall operational level of China's sports industry has improved thanks to their participation. For the industry to reach its full potential, China's sport must be built around independent, professionally-managed sports leagues and its own industrial chain."

According to statistics of the General Administration of Sport, China's sports industry accounts for only 0.5 percent of China's GDP, while in many developed countries, the number often exceeds one percent. And in the United States, the ratio is around 11 percent.

For CRI, I'm Shuang Feng.