China's sports industry achieved a market size of over 3.67 trillion yuan (about 500 billion U.S. dollars) in 2023, accounting for 1.15 percent of the country's gross domestic product (GDP), according to an official report released on Tuesday.
The data, obtained from the Fifth National Economic Census, showed that the output value of the sports sector totaled 3.6741 trillion yuan in 2023, with an added value of 1.4915 trillion yuan. And the industry's share of GDP saw a slight increase of 0.07 percentage points from the previous year, according to the National Bureau of Statistics.
Specifically, the sports services realized an added value of 1.0849 trillion yuan in 2023, making up 72.7 percent of the total added value of sports industry. The figure marked an increase of 2.1 percentage points from 2022.
Sports goods and manufacturing of related products contributed 383.2 billion yuan in value-added output, representing 25.7 percent of the overall sports industry value, down 2.1 percentage points from the previous year.
Sports venue and facility construction generated 23.4 billion yuan of added value, accounting for 1.6 percent of the total, which remained unchanged from the previous year.
China's sports industry contributes 1.15 pct to GDP in 2023
China's largest integrated photovoltaic(PV)-hydrogen-storage project located in Jiangsu Province was connected to the grid and begun power generation from Tuesday, said state-owned energy firm CHN Energy Friday.
Located on the coastal tidal flats of the Yudong Reclamation Area in Rudong County, it is China's first integrated offshore facility combining PV power generation, hydrogen production and refueling, and energy storage, all within a framework of comprehensive energy utilization and coastal ecological restoration.
The 400-megawatt project, spanning 4,300 mu (around 286.67 hectares), incorporates a newly constructed 220 kV onshore booster station, a 60 MW/120 MWh energy storage facility, and a hydrogen production and refueling station with a capacity of 1,500 cubic meters per hour and 500 kilograms per day, respectively.
Part of China's third batch of Desert, Gobi and Rocky Areas Mega Wind and Solar Base Projects, the Rudong facility is expected to generate around 468 million kilowatt-hours of electricity annually.
The project is expected to deliver significant environmental benefits, including an annual reduction of approximately 309,400 tons of carbon dioxide emissions, 562.6 tons of sulfur dioxide emissions, and 1,125.3 tons of nitrogen dioxide emissions.
China's largest integrated PV-hydrogen-storage project begins power generation
