Abstract

Since the 21st century, the income of the urban residents' and the consuming tendencies are changed significantly. In recent years, with the continuous improvement of living standards and leisure time increasing, the consuming awareness of sports and the number of people participating in sports are increasing gradually; the sports spending level and ability are also increasing.Thoughout the course of development of sports industry in developed countries, relying on the integration of resources of capital expansion is the trend of the future development of the sports industry.The capital market entering sports industry is not only theirown development needs, but also the sports industry development new context of the economic globalization andturbulence. The State Council promulgated“the guidance of accelerating the development of sports industry”（SCS[2010] No.22） in 2010, this dissertation pointed out that should increase the investment and financing support, supports qualified enterprises to enter the capital market;The SSG Administration also pointed out that should encourage private and foreign capital to invest sports, encourage sports companies to develop bigger and stronger though the chain, acquisition, mergering and other means.

Based on the above background, this dissertation used capital theory, strategic theory, macroeconomics, industrial economics,financial management and other related knowledge though the normative and empirical research methods, this dissertation builded the sports industry expansion objective function combined with the internal and external environment of China's sports industry development and the characteristics of capital expansion, and analysised the model of sports industry expansion, and in the last, this dissertation gave the path and strategies of China's sports industry expansion.

The main results of this study include:

（1） This dissertation analysed the characteristics, environmental factors, dynamic mechanism and stage of development of China's sports industry. This article analysed the dynamic mechanism and the stage of sports industry expansion from the macro environment and the course of China's sports industry and the proceed of international sports industry, on this basis, this dissertation analysed the bearer characteristics, strategic characteristics, system features and benefits features of sports industry expansion, and proposed the support and obstacles elements.

（2） This dissertation analysed the objective function and mode of China's sports industry expansion. The dissertation put forward the principle and objective function of sports industry expansion by studying of the experience of foreign sports industry expansion, combined with the characteristics of the expansion of China's business capital, macroeconmic developments and the characteristics of sports industry, and anlysed the three typical expansion mode in the process of China's sports marketing, and at last, this dissertation summed up the characteristics and risk factors should be noted.

（3） This dissertation analysed the characteristics of expansion mode of different types enterprises. The dissertation anlysed the typical sports industry （enterprises） with the principle of division of the industry, the dissertation coverd the different sports types, including the private sports enterprises and state sports enterprises; this article tried to find out characteristics and problems of China's sports industry expansion from summaring the different models of sports industry.

（4） This dissertation summed up the expansion paths and strategies. This dissertation summed up the paths and proposed the strategies from policy guidance, management system reforming, marco-environment improving and the establishment of capital markets by analyzing the support and obstacles elements, the objective function, model features and studying the different types sports industry.

This dissertation focused the theme the sports industry capital expansion, attempted to analyze the sports industry capital expansion model in the post-Olympic period, the dissertation tried to analyze from dynamic mechanism, phasing, model characteristics and other aspects of the expansion path; of course, the expansion of the regional capital of the sports industry andsmall and medium enterprise capital expansion and other physical aspects still need further study.

Keywords: Capital Expansion Model; Life Development Cycle;Financing Channels;SportsEnterprise