Shenzhen to set up $30mn annual sports fund



Linkedin Twitter

Shenzhen Sports Fund

China’s southeastern metropolis of Shenzhen has announced it will set up a new development fund for its sports industry with an annual budget of CNY 200 million ($30mn) for the 2017-2020 period.

The reserve will be used for funding sports projects such as sporting events, and refurbishing or building of potential clubs and sports-themed industrial parks. The projects will be supported by direct investments or in the form of subsidized loans or bonuses.

The municipal government of Shenzhen recently published their sports industry goals and plans in an official statement. From 2017 to 2020, Shenzhen will enhance their support for those sports which are popular among Shenzhen residents and those sports with great marketing potential, such as soccer, basketball, volleyball, table tennis, badminton, golf, sailing and marathons.

Bringing more premium sports brands to Shenzhen is also one of the priorities of the government. In terms of the sports industry revenue, Shenzhen targets the gross value added of the sports industry to increase 15 per cent annually and to contribute up to 1.2% of its GDP by 2020.

Alongside the set up of this fund, the Shenzhen municipal government also encourages every district of Shenzhen to set up a special fund to attract more social investments to the sports industry.

More details on these venues will be available at the next Coliseum Summit ASIA-PACIFIC, October 25-26, 2017 in Beijing, China. Continue to follow Coliseum Summit, a global series of stadium and arena business conferences, for latest updates from around the world.

Watch 150 member-exclusive videos with valuable tips for your venue



« Previous News:
» Next News:


More News

Sodexo new venue partner for Fulham FC

Sodexo Live! key role in Fulham Pier project

Published: August 9th, 2022

Sodexo Live! has won an 11-year contract as venue partner for Fulham Football Club (UK) on its new... » Read more

Wrexham AFC submits planning application

Overwhelming support to Wrexham A.F.C. on Kop

Published: August 8th, 2022

The National League team Wrexham A.F.C. (UK) can confirm it has submitted the planning application... » Read more

Kansas City Chiefs likely to stay at Arrowhead

Arrowhead Stadium rejig on the table

Published: August 8th, 2022

The National Football League (NFL) team Kansas City Chiefs Chairman and Chief Executive Officer... » Read more

Real Zaragoza planning for a new stadium

Zaragoza to try luck with new venue again!

Published: August 8th, 2022

After three futile attempts, the Segunda División club Real Zaragoza has decided to again try its... » Read more


Receive global sports venue NEWS twice a week in your inbox