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HANGZHOU, east China, Sept. 9 (Xinhua) -- China's e-commerce giant Alibaba announced on Wednesday that it will set up Alibaba Sports Group, aiming to take a bigger share in the lucrative sports industry of China.
The launch of the Sports Group serves as one of the latest moves from Alibaba in China's sports industry after the e-commerce titan invested 1.2 billion yuan (about 192 million U.S. dollars) to own 50 percent stake of Guangzhou Evergrande, China's most successful soccer club and former Asian Champions League winner.
Alibaba also had business cooperations with German champions Bayern Munich, Spanish giants Real Madrid and NBA star Kobe Bryant.
Alibaba founder and chairman Jack Ma once said providing health and happiness will be Alibaba's two main priorities in its next 10 years' development. And sports, Alibaba believes, can achieve both.
With the latest campaign, Alibaba said it hopes to bring "digital and economic" thinking to China's already booming sports industry, reshaped the whole of the industry and make consumers enjoy much more comfortable and convenient sports services.
"Internet has become a new impetus for sports industry's development and Alibaba Sports Group will strive to provide a web portal for the industry. Hopefully it will upgrade the whole industry and bring more values," said Zhang Yong, CEO of Alibaba.
On back of 10 years' development and especially the successful hosting of the 2008 Beijing Games, China's sports industry has taken its shape and grown on a fast lane.
Promoting fitness has also become one of the country's national strategies, with the Chinese government announcing plans last year to develop the country's sports industry and raise the sector's annual output to 5 trillion yuan (813.87 billion U.S. dollars) by 2025.
With Beijing winning the hosting right of the 2022 Winter Olympic Games last July, the local sports industry is expected to become an even bigger cake.
Alibaba said it will be engaged in all aspects of the sports industry, including sports events operations, home entertainment, media, business marketing, and ticketing.
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