China's State Council issued a circular on August 3 to push forward an extensive new five-year mass fitness program. It proposes that by 2025, the proportion of people who regularly take part in physical exercise will reach 38.5% from 37.2%.
Xiaomi injects funds into bodybuilding course maker I-Fitness, Julive rakes in 400 million yuan, Allianz tightens partnership with WeLab, while Xpeng Motors secures a new commitment from the Guangdong government.
Chinese health food brand Sharkfit completed A round of financing worth 15 million yuan backed by Plum Ventures, 36Kr reported.
By offering virtual fitness lessons, pre-recorded workout videos or remote one-on-one coaching during the pandemic, many fitness platforms believe these actions may permanently change the landscape of the industry.