China's Rapidly Developing Sports Industry

China's sports industry is a rapidly developing industry, and its market size has continued to grow in the past few years. According to the market research report on the operation situation and investment prospects of China's sports industry from 2023 to 2029, in 2018, the total scale of the sports industry reached 5.55 trillion yuan, while in 2017 it was 4.2 trillion yuan, an increase of 31.8%. In addition, in 2019, the market size of China's sports industry reached 6.2 trillion yuan, an increase of 11.8 percent over 2018. In addition, China's sports industry is accelerating the pace of reform to adapt to the changing market environment. The holding of the Hangzhou Asian Games is of great significance to Hangzhou city and the whole of China, not only to enhance China's influence in the Asian sports world, but also to promote the development of Chinese sports. The Asian Games can improve the development level of China's sports industry, promote the integration of sports industry with other industries, promote the growth of sports consumption, and further promote the development of China's economy.