Ice and snow sports sector gearing up for 20b in sales revenue by 2022

By 2022, the ice and snow equipment sector in China aims to hit annual sales revenue of 20 billion yuan ($2.9 billion), and achieve an annual growth rate of 20 percent or more between 2019 and 2022, according to a new plan issued by the government.

China needs to significantly increase its supply of ice and snow equipment, develop a group of top internationally competitive equipment makers, and set up a global research and development, production and operational system of equipment to better prepare for the upcoming Beijing 2022 Winter Olympics Games and beyond, according to the plan co-issued by nine government entities, including the General Administration of Sport of China and Ministry of Industry and Information Technology.

The 2022 Winter Olympics will be held in Beijing and Zhangjiakou city, North China's Hebei province, which is about 200 kilometers northwest of Beijing. High-speed trains will soon connect Beijing and Zhangjiakou, and reduce travel time from four hours of driving to about one hour on the train.

According to the plan, which elaborates new guides designed for the period from 2019 to 2022, China will build more premium ice skating and skiing resorts that integrate ice and snow-related leisure travel products. Those facilities also should lower operational costs, attract more ice and snow sports lovers, and further boost public consumption in the sector.

The plan encourages advanced technologies, such as big data, artificial intelligence and wearable devices, to be applied in the construction of new ice and snow venues. Authorities will select 30 top smart venues nationwide to demonstrate their experiences and popularize the market.

In addition, the plan encourages middle and elementary schools to take classes in suitable ice and snow sports, and they may cooperate with ice and snow clubs and venues, which may help to foster more professional talents.