BEIJING, July 3 (Xinhua) -- China has started drafting the ice and snow equipment industry development action plan (2018-2020) to better serve the 2022 Beijing Winter Olympics, according to a source with the Ministry of Industry and Information Technology (MIIT).
The equipment industry department of the MIIT and the economic department of the General Administration of Sport recently held a meeting in Beijing to initiate the formulation work, reported Shanghai Securities News.
China’s ice and snow industry market transaction scaled up to 397.6 billion yuan in 2017, and expects an annual growth of more than 10 percent in the following three years, according to Analysis International.
The ice and snow market is likely to see explosive growth with the approaching of the Beijing 2022 Winter Olympics. It is estimated that the market size of China's ice and snow industry will exceed 600 billion yuan in 2020 and reach 1 trillion yuan in 2025, according to Analysis International. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)
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