China laid out a lofty goal in its football reform plan published last year.
But the country's aim of becoming a world football powerhouse by 2050 is about more than just a moonshot at a World Cup title. China's football reform plan is about a broader commitment to the development of sport both within and outside its borders.
It's a commitment exemplified in the recent surge of investment from Chinese firms into top-flight football clubs across Europe.
Following Chinese President Xi Jinping's recent visit to Britain, China Media Capital and investment company Citic Capital purchased a 13-percent stake in Manchester City's parent company.
During that visit, Xi, an avid football fan, also toured the Man. City Football Academy and bumped into City star Sergio Aguero. Aguero grabbed a selfie with the Chinese leader, who in February 2015 led a central leading group in rolling out a milestone football reform plan for China.
The plan, encouraging private sector investment and setting a long-term goal of making the country a top-tier football power, has been well-received by Chinese investors and the general public alike.
"It is a blueprint for the sport's future against the backdrop of the country's dream of national rejuvenation. So the plan will not just place patches here or there or solely concentrate on competition results. It is a long-term project to raise the level of the game, and focus on the sport's positive effect on the economy, society and culture," said Chinese Football Association head Cai Zhenhua after the reform plan was published in March of last year.
Favorable policies drew a fervent response from Chinese investors, whose shopping spree in top European football culminated in Chinese electronics giant Hisense acting as a global partner for Euro 2016.
Hisense reportedly spent 370 million yuan (55.56 million US dollars) for its debut in the top European football event, a sum amounting to about 25 percent of the firm's net profit last year. Hisense is the first-ever Chinese company to endorse the 56-year-old tournament.
In addition to Citic Capital's buy-in to Man. City, the recent shopping spree also saw several other clubs find Chinese owners: La Liga giants Atletico Madrid and Espanyol, Serie A powerhouse Inter Milan, Ligue 1 side Nice, and former Premier League club Aston Villa.
An executive with Chinese retail giant Suning, which acquired a majority stake in Inter in June, explained the reason for the splurge.
"The acquisition is part of Suning's strategy in the development of the Chinese sport industry, which is set to be the leading industry in the country in the next five years," said Zhang Jindong, chairman of Sunning Holding Group.
Investors have been equally generous back at home. Despite the lowly performance of the men's national team, which lingers at around 80 in the FIFA world rankings and is still awaiting a second entrance to the World Cup finals after 2002, they are optimistic there is a goldmine to be uncovered in China's domestic football market.
Clubs and their backers spent a whopping 25 billion yuan on the 2015/16 winter transfer market, turning the Chinese Super League (CSL) into the top-spending league in the world, ahead of the EPL.
The 2016-2020 television rights to the CSL were sold at a stunning 8 billion yuan to Beijing-based company Ti'ao Dongli.
The 2015 CSL registered record attendance as 5.33 million fans cheered their teams on live, while 410 million viewers watched the 30-round league on television.
"We estimate the Chinese football market to be worth 800 billion yuan if China's overall sport market is put at 2 trillion yuan," said Ti'ao Dongli general manager Zhao Jun. "That's why we consider the 8 billion yuan for the CSL TV rights a bargain."
What is happening in football is expected to provide valuable experience for other sports. Football was the first sport to be professionalized in China, in 1994, and now serves as a trailblazer.
Chinese Football Association chief Cai Zhenhua, whose organization became independent from the government earlier this year, said that China's sport "reform and development plan aims at football while its significance transcends it."
He explained, "Football is the undisputed first sport in the world. [In China], the sport is more market-oriented, better professionalized and the most popular. All of these factors make it the best experimental field for China's overall sport reform."
