Mar 21, 2017

China's gov't-backed exercise boom

Kin Cheung / AP

Chinese people are joining gyms as the government backs an exercise boom. Gym membership have doubled since 2008 and sportswear sales rose 11 per cent last year, the Financial Times reported.

The winners: Athletic wear brands. Addidas saw a 28% increase in sales in China since last year and Nike reported "double-digit" growth in the country. While the U.S. is still the number one consumer of the companies' products, China is now number two.

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