Cultural sports and entertainment industry

Culture and related industries have developed rapidly in recent years. As residents’ disposable income increases, the consumption level of culture and related industries rises. In the context of cultural rejuvenation, there are tremendous opportunities for the development of cultural and related industries.

The Statistical Communiqué of the People's Republic of China on the 2017 National Economic and Social Development indicates that the added value of culture and related industries reached 3.08 trillion yuan in 2016, an increase of 13.0 percent over the previous year. The value accounted for 4.14 percent of the total GDP, an increase of 0.19 percentage points over the previous year. The growth rate of 6.9 percent of the cultural industries is significantly higher than that of GDP.

The tourism industry has also witnessed tremendous development. In 2017, China received a total of 5 billion tourists, an increase of 12.8 percent from the previous year. The domestic tourism revenue reached 4.57 trillion yuan, an increase of 15.9 percent. Just over 139 million person-times came to China and the number of domestic residents going abroad reached 142.73 million. With the rise of China's comprehensive power and the income level of Chinese residents, the charm of Chinese culture will attract more and more inbound tourists. And as a result, the cultural and tourism industries will also have more room for development.