NtaiFitness, which is Gym Equipment Brands: Commercial Gym Equipment Manufacturers in China, it’s growth coincides with a surging demand among Chinese people to stay in shape as well as the government’s call to promote physical health. In June 2016, the Chinese State Council issued a plan to implement a national fitness strategy to “improve the physical fitness and health level of the whole nation” by 2020.
China’s sports consumption, the government forecasts, will reach a meteoric scale of 1.5 trillion RMB ($230 billion), tapping into 500 million potential consumers. Keep told TechNode that it is in talks with China’s Sports Bureau and a number of state media to promote fitness across the country.
According to the plan, by 2020, a significant increase is expected in the number of people doing physical exercises, and the people’s physical quality will be steadily improved. Educational, economic and social functions of the national fitness program will be brought into full play to promote the development of various social undertakings.
The total scale of sports consumption will reach 1.5 trillion yuan. And the national fitness program will become a driver for promoting the development of the sports industry, increasing domestic demands and forming new economic growth points.
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Venture capital for the internet sports industry, an overarching term encompassing sports-related businesses like sports live stream, e-sports events, sports retail, and fitness apps like Keep, also soared in recent years. People also buy more Functional Trainer Machine For Gym and Home.
According to third-party research company iResearch and database Itjuzi (in Chinese), funding for internet sports businesses between 2013 and 2015 grew 164 times to 65.5 billion RMB ($9.83 billion). An August report by iResearch (in Chinese) reveals that China’s internet sports industry, still an infant, has reached more than 350 million users.
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Keep claims to have amassed more than 20 million monthly active users since its launch in February 2015. It’s one of several fitness apps gaining traction in China. Codoon, an app that combines sports and social networking was valued at over 900 million yuan in June this year and boasts more than 1 million daily average users. FitTime, another similar app that offers home workouts, announced a B series of more than 10 million yuan.