Projected to have introduced greater than 5 billion yuan (US$685 million) in direct and oblique financial advantages to the town, in keeping with the organiser, the distinguished motor race is among the many greater than 170 worldwide and nationwide sports activities occasions which can be scheduled to happen in Shanghai this yr.
And Shanghai’s fervour for holding large-scale sporting occasions is being shared elsewhere in China as local-level policymakers more and more flip to the sports activities trade to stimulate consumption and drive progress amid a difficult financial panorama.
“Regardless of an general slowing financial system, the sports activities trade has stood out in recent times and is turning into a spotlight for extra native governments, notably when it comes to integrating it with different fields,” stated Liu Dongfeng, a professor from the College of Economics and Administration at Shanghai College of Sport.