New Chinese sporting goods industry report posted
Dublin-based research company Research and Markets has made a new report entitled “China Sporting Goods Industry Report, 2006-2007” available. The report speaks of abundant labour resources, huge market potential and favourable policies, which have boosted the Chinese sporting goods industry to become a massive international presence. However, the industry has encountered many difficulties as a result of its rapid global rise, including standards issues. China’s sporting goods annual sales are currently between RMB30 million and RMB40 billion ($4 billion and $5.3 billion) and its annual production value will be expected to share 0.3% of the country’s GDP by 2010. The 2008 Beijing Olympics are expected to give the sector an additional boost and to provide additional employment. At present, between 20,000 and 25,000 companies are actively involved in producing sporting goods in the country.
