Big sports are also big business, and an increasing number of Chinese companies are learning how to play. General Manager of Perky Sports, Wang Yong is among those keen to share the pie and said there are several ways to ensure the business makes money. 

Wang set up his sports event firm two years ago, and he's already run competitions from the world figure skating championships to the Shanghai snooker masters. His company provides a complete service chain from setting up a competition to publicizing it.  

“The intellectual property of a sports match is itself a great product, and you have to think about how to sell it. Increasingly now we are also focusing more on marketing via social media, such as our WeChat accounts, to attract as many fans as possible. That will help boost the whole business chain and later the creation of derivative products,” he said.  

The business cycle of running a competition goes far beyond the game days. A complete chain for a top sports event begins with organizing and then runs through selling broadcast rights, selling tickets, marketing and the launch of derivative products – T-shirts, hats and game mementos. 

Many companies are crowding into the market now, from professional firms to amateur video streaming websites. Even China's travel giant Ctrip is getting in on the action. It sold goods and services for the current Basketball World Cup valued at more than one million yuan. Other top sports events, such as the Euro league, the Australia Open and FIFA World Cup, are also big draws. 

“Our tour package includes plane tickets, hotels and game tickets. We can even offer services like interacting with the players and watching games with local sports fans, depending on how we put the product together,” said Zhang Yi, director of Ctrip's vacation business.

One sports event can potentially generate huge business opportunities, but industry players point out that the income structure of China's sports business is still not fully developed. Wang Yong said most of his income still comes from commercial sponsors and advertisements, adding that most of China's sports fans are not willing to pay to watch a game.

In countries where the sports business sector is more mature, most of the income comes from copyright and ticket sales. China's central government is thinking of ways to further promote the sports industry. A recent State Council guideline urged that the sports businesses become an important part of China's economy by 2035.