本报告分析了2018年A股市场、H股市场、新三板市场、私募投资市场四大板块投资及其他相关数据,并在此基础上对2018年我国体育产业投资态势和趋势进行了判断:从中长期看,我国体育产业投资还处在第一个周期中由波峰向波谷下行的阶段,距离产业成熟(2~3个波动周期)还有很长一段路;从短期看,过去两年的去杠杆以及资本市场改革对体育产业的投融资能力造成了很大的影响,但影响程度在不同企业之间出现分化,差异明显。为了更好地促进体育产业投资和发展,建议加强直接融资,充分利用主板、创业板、科创板以及各地各类产权交易市场来促进体育产业直接融资;推动诸如体育无形资产抵押贷款等符合体育产业特点的金融产品和金融服务创新,扩展间接融资渠道。
<<This report analyses the investment and relevant data of the A-share market,the H-share market,the National Equities Exchange and Quotations market and the private equity investment market in 2018. Based on the analysis of the situation and the trend of Chinese sports industry investment,the conclusions are as follows:In the medium and long term,Chinese sports industry investment is still in the first cycle(from the peak to the trough). There is still a long way to go before the industry get well developed(it includes 2-3 fluctuation cycles). In the short run,the de-leverage and capital market reforms of the past two years have had a great impact on the investment and financing capabilities of the sports industry,with different impacts on different enterprises. In order to promote the investment and development of the sports industry,it is suggested that direct financing should be strengthened to make full use of the Main Board Market,the Growth Enterprise Board,the Science and Technology Board,and various property rights trading markets. Innovations in financial products and financial services such as sports intangible assets mortgage loans should be promoted in order to expand indirect financing channels.
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