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China's sports market is still in its preliminary stage, says President of Granada CF

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Jiang Lizhang, president of Spanish soccer Granada CF told CNBC on Wednesday that China's sports market is huge and there are many opportunities still untapped.

, Jiang said "I believe that in China we have a big market for the Chinese soccer league because there is a lot of momentum to further our consumption power," he said in Mandarin.

"The market is huge but we are still in its preliminary stage. That is why we hope one day we can attract more overseas investment into the Chinese sports market, so they can share with us their experience and knowledge in managing sports teams professionally," he said according to CNBC's translation.China's sports industry market size grew from $56 billion to a predicted 470 billion in 2025.

FIFA president also announced that the hosts for the 2030 World Cup would be chosen in 2024, but yet to announce the bidders. Parma Calcio players celebrate their president Jiang Lizhang president at Stadio Ennio Tardini on May 27, 2018 in Parma, Italy.

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