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Sina Hosts The Leaders Sports Business Summit Todd Gurley II Rams Jersey , 250 Global Sports Business Elites Gather for International Dialogue on Sports Industry.


On July 21st, the Leaders Sport Business Summit was held in China for the first time at Sina Plaza in Beijing. The cross-cultural dialogue welcomed 250 Chinese and international senior executives, 50+ media outlets and 20 speakers from the world of sports business. The Summit examined global development trends in sports industry, and discussed the challenges and opportunities for China’s sports industry. The Summit kicked off with Arthur Wei, SVP of Sina and GM of Sina Sports, who shares his ideas about new opportunities for China’s sports industry, and the transformation of Sina Sports from a pure content publisher into a leading sports entity with content publishing, social media, and offline sporting event operation.


The following is a transcript of Arthur Wei's speech at the Summit.


Ladies and Gentlemen,


On behalf of Mr. Charles Chao, President of both Sina and Weibo, I would like to welcome you all to Sina, Beijing and China.


33 years ago, there were 2 major events hit China and China’s Sport Industry. The Reform and Open Door Policy applied to most industries and impacted Chinese society which made China the 2nd largest economy in the world 16 years later. The other major event happened in Los Angeles – the 1984 LA Olympics in which China rejoined the Olympic family 52 years later and the China’s sport delegation marked the history. The total of 32 medals made China No.4 among 140 countries. And the inspiration and passion built by the success to underdeveloped China in 1984 were priceless. On the other hand, the enormous achievements reinforced China’s sport development practice: The government funded all top athletes and the sports development had been regulated by the government agency: the General Administration of Sport.


30 years later from LA Olympics, the government issued articles No.46 in Oct. 2014 which triggered the reform on China’s sport industry. Article No.46 stated an ambitious plan to develop China’s sport industry to 50 trillion RMB which equals 5% of GDP by 2025 .The strong government support immediately boosts up China’s sport industry’s investment and development. The symbolic China Super League, CSL’s 5 year Live video rights sold for 8 Billion RMB in 2015, which also spurred up other soccer right prices in China. And the investments on sports ranging from plays’ transfer, clubs acquisition, IP rights purchase and investments on various sports have been soaring.