Olympics a Win for Sporting Brands Sold in China
Even if local brands can't outrun their foreign rivals, it's hard to imagine them losing money, giving support to company fundamentals despite depressed share prices. Lesser-known local sporting equipment makers, many from China's southern provinces, also should net growth in sales of off-brand badminton rackets and ping pong balls -- cutting into the bigger names that sell partly on prestige.The Olympics not enough? State-run Chinese media reported in mid-2011 that the country's Five-Year Plan, which runs through 2015, will foster a sports industry worth 400 billion yuan, or a bit over 0.7% of the GDP. Sports, at that point, will "become one of the important growth points of China's economy," the China Dailynewspaper said.
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV