China's ice, snow equipment sector eyes fast growth track

Time: 2019-06-04
Summary: Steel Market

China's ice and snow equipment sector is expected to grow on fast track as the country embraces the 2022 Winter Olympics.

The industry aims to rake in sales over 20 billion yuan (2.89 billion U.S. dollars) annually by 2022, growing more than 20 percent on average, according to an action plan by the Ministry of Industry and Information Technology, the General Administration of Sport of China and other seven government agencies.

The country plans to nurture several well-known brands and enterprises with global competitiveness in this field and develop several recreation and tourism complexes to cater to the potential demand of winter sports participants.

A total of 30 ice and snow sports arenas will be selected to be equipped with smart technologies such as artificial intelligence and wearable devices to make them more interactive and energy-efficient, according to the plan.

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