The People’s Bank of China, together with the General Administration of Sport of China, the National Financial Regulatory Administration and the China Securities Regulatory Commission, published guidance setting out a package of measures to strengthen financial services for the sports industry, with a focus on supporting high-quality industry development and expanding sports consumption. The guidance prioritises financing for sports infrastructure construction and operations, including stadiums, sports service complexes, ice and snow venues and outdoor sports destinations, alongside increased financial support for sports goods manufacturing and sports services. It also promotes credit support for sports consumption, including use cases for the digital renminbi and, where conditions permit, issuance of digital renminbi sports consumption vouchers. Additional measures cover financing support for professional sports clubs and the ice and snow economy, and a full-lifecycle financial service offering for sports events including loans, leasing, insurance, FX services, card payments and digital renminbi. On the funding side, it calls for greater use of bond markets (including use of small and micro enterprise-focused financial bonds and corporate bond issuance for eligible projects), more efficient equity financing channels (including IPOs, refinancing, mergers and acquisitions and National Equities Exchange and Quotations listings), higher insurance coverage for sports-related risks and more flexible financial leasing support. Implementation provisions include stronger cross-agency coordination, credit information sharing and monitoring, and local mechanisms to address bottlenecks. The People’s Bank of China said it will work with relevant departments to strengthen implementation arrangements, establish mechanisms to drive delivery and continue providing operational guidance.

Original source View in tracker