A saleswoman exhibits the exclusive merchandise items featuring the 19th Asian Games main torch tower's design on September 25, 2023. Four such items are unveiled, with each set including limited edition numbers, certificates and anti-counterfeiting labels. (Photo: Li Hao/GT)

The total revenue from market development for the Hangzhou Asian Games and Asian Para Games has reached 5.316 billion yuan ($728 million), with both sponsorship income and the number of sponsors being the highest in the event's history, an official with the organizing committee said on Thursday.

The Hangzhou Asian Games attracted sponsors from 176 companies across 118 categories, with a cumulative value of 4.42 billion yuan, accounting for 83.1 percent of the total market development revenue for the sports gala, deputy director Du Mengfei from the organizing committee's marketing department told a press briefing.

Among the sponsors, Zhejiang Loong Airlines' Asiad-theme-painted flights have brought the "colors of the Hangzhou Asian Games" to every corner of the country. A command platform system sponsored by Hangzhou Hikvision Digital Technology has made the work of the sports event more intelligent and efficient, Du said.

Active corporate participation in the event has enhanced the brand value of the Hangzhou Asian Games and achieved a win-win result for both businesses and the Games, Du said.

The official ticketing sales website for the event logged more than 1 billion visits as of Wednesday, with nearly 3 million registered users. Ticket revenue has surpassed 600 million yuan, and popular events report a seat occupancy rate exceeding 90 percent, according to the Xinhua News Agency.

The sales revenue of the Hangzhou Asian Games' licensed merchandise reached 760 million yuan as of Wednesday, with many products selling out immediately upon release.

"Such rosy achievements show that the level of commercialization of major sports events in China has improved, and the participation of corporate sponsors and other related enterprises is increasing," Jiang Yiyi, deputy head of the School of Leisure Sports and Tourism at Beijing Sport University, told the Global Times on Friday.

It also reflects the local innovation ability and economic vitality, Jiang said, adding that the commercial success will promote the better organization of such sports events in the future. 

The Yangtze River Delta region, where Zhejiang is located, is one of the most vibrant, open and innovation-driven areas in China's economic landscape. A total of 107 sponsors were local companies from Zhejiang, accounting for 60.7 percent of the total, according to media reports.

Workers polish bicycle steel rings sold overseas at a foreign trade enterprise in Tianmushan town, East China's Zhejiang Province, on October 5, 2023. (Photo: cnsphoto)

China's eight-day super Golden Week, which began on September 29, comprising the Mid-Autumn Festival and National Day holidays, helped fuel the frenzy of the "Asiad economy."

According to data released by Meituan-Dianping on Thursday, during the holidays, orders for services consumption in Zhejiang rose by 195 percent compared with the level in 2019. Dine-in restaurant orders in Hangzhou surged by 443 percent, while sports and fitness orders in the city grew by 762 percent. 

Across the nation, sports such as billiards, tennis and squash saw booking increases of more than 1,000 percent during the holidays, and niche sports like archery, equestrian events and rock climbing have gained popularity.

The Hangzhou Asian Games have also stimulated the development of sports, tourism and entertainment services, and the event will boost the manufacturing sector behind the sports industry by promoting public participation in sports events, including equipment manufacturing and related technological innovation, Jiang noted.

Moreover, the Asian Games has showcased China's achievements to the world, displaying Chinese people's long-term confidence in developing the economy to the world, Tian Yun, a veteran economist based in Beijing, told the Global Times.

"It will attract more and more foreign friends to come to China, learn about China, enjoy China and share the opportunities in China's development," Tian said.

Source: Global Times

Editor: Tan Qikuan, Jin Yingzheng (Intern)