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China's sports promising huge market prospects
Updated: 2005-05-18 11:06
China's physical culture is robust and promising huge market prospects, attendees at the sports round-table meeting of the 2005 Fortune Global Forum, which held Monday in Beijing, reached the consensus.
Topics of the one-day event included China and physical culture, why Chinese consumers love sports, the prospects of sports undertakings in China and the relationship of sports and media.
Sports is flourishing in China, and the 2008 Olympics to be held in Beijing is becoming an engine for the undertakings, some attendees said.
Liu Peng, head of the State Administration of Sports, said at the round-table that the meeting has provided an internationalized platform for the rest of the world to observe sports undertakings in China, and a good perspective for foreigners to understand the nation through sports. Meanwhile, the meeting could also be translated into an opportunity for China's sportsmen and sports-related employees to learn from the rest of the world, Liu added.
Attendees from abroad agreed that sports market boasts huge development potentials.
Herbert Hainer, chairman and CEO of Addidas-Salomon, said marketing tactics are very important for foreign businesses to enter China's enormous sports market, and his company should be innovative in this respect.
Adam Silver, chairman and CEO of NBA Entertainment, said NBA will continue to be devoted to popularizing basketball in China.
Tony Ponturo, chairman and CEO of Budweiser Media, said that as a major sponsor of 2008 Beijing Olympics and a world's leading beer supplier with a history of 150 years, Budsweiser should incorporate itself with the Chinese market and understanding what Chinese people are thinking. He considered China's market temptatious but Chinese consumers fastidious.
The 2005 Fortune Global Forum is due to be held in Beijing from May 16 to 18. The sports round table is the first special meeting for sports issues the Forum has ever convened.
(Xinhua)
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