New sports investment fund to spur China growth

Article posted by Coliseum, November 22^nd, 2023

Image: China National Sports Group

China National Sports Group and Singapore investment company White Group have teamed up to launch a new fund aimed at driving growth in the sports sector in China.

The Sino-Singapore International Sports Industry Fund initially stands at RMB 2 billion ($279 million) and will be used to acquire the rights to top-tier international sporting events and to build the “Sino-Singapore International Sports City” in the Guangdong–Hong Kong–Macao Greater Bay Area.

With top-level sporting events and top-quality venues considered as core resources of the sports industry, China is committed to ramping up its investments in these crucial sectors.

China National Sports Group, which has shareholders including the Chinese Olympic Committee, has set aside resources to establish the investment fund with White Group that will be eventually expanded to RMB 6 billion, with White Group contributing RMB 4.2 billion and China’s capital contributing RMB 1.8 billion.

Both parties will work together to create a business model in which sporting events help to increase the popularity of venues, while content drives the utilization and design of physical spaces.

The collaboration will also extend to the development of sports training, the management of star athletes, platforms for digital sporting events, esports research and operations, sports data research, and sports rehabilitation and training programs, among others.

The signing ceremony was held at the Beijing Sports Center.

Secretary of the Party Committee and Chairman of China National Sports Group Gu Haoning said, “China’s sports industry has embarked on a remarkable journey over the past few decades, evolving from a less significant position to one of strength and importance. In recent years, attention at the national level combined with supportive policies have created an unprecedented focus on the sports industry.

“Meanwhile, Singapore’s government and relevant investment firms have maintained an optimistic outlook on China’s long-term economic growth and are seeking opportunities to expand their investments in the country. The trade relationship between China and Singapore is characterized by mutual synergies, open communication between governments and businesses, and a strong willingness to collaborate. Leveraging mutual trust and market compatibilities, China National Sports Group and White Group are joining hands to drive the development of the sports industry. This collaboration marks an exciting step toward the future.”

Executive Chairman and President of White Group Peh Chin Hua said, “We are deeply honored to have the opportunity to join forces with China National Sports Group, and we look forward to achieving remarkable milestones in the world of sports. Collaboratively, we will acquire the rights to and operate some of the world’s most prestigious international sporting events. In this fortunate collaboration between our two nations, we are thrilled to join forces to support the international sports industry, fostering its steady and healthy development, and making a positive contribution to global peace in our interconnected world.”

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