The Summit was created to provide the industry with an understanding of the Chinese sports landscape and position sports organisations to capitalise on these emerging opportunities.

Attendees at this year’s two-day event will include city sport bureaus from across China and Asia, as well as sport companies, clubs, media, sponsors and academics.

The objective is to bring together leaders of international sport federations with Chinese stakeholders interested in growing sport as a business economy.

Following a keynote speech by Summit President Lisa Delpy Neirotti, the opening presentation of tomorrow will be conducted by Shuichi Kameyama, the special advisor for tourism, sports and mega events at the United Nations World Tourism Organization.

Among the other speakers on day one will be Melanie Duparc, general secretary of the World Union of Olympic Cities, and Thiago De Rose, head of strategic planning at Arena Corinthians.

He will reflect on the legacy of the 2014 FIFA World Cup in Brazil.

Day two will be headlined by two sport event showcase sessions featuring representatives of numerous International Federations, including the International Ski Federation, the International Basketball Association and World Rugby.

Other notable speakers are New Zealand's four-time Paralympic champion swimmer Duane Kale, a possible candidate for President of the the International Paralympic Committee, and Alex Lim, secretary general of the International e-Sports Federation.

Both sport event showcase sessions will see eight international sport executives share information about events open for bidding and development programmes.

"China has identified sport as a national priority to stimulate the economy and the health of its citizens," a statement on the WSET’s official website reads. 

"Throughout the country, sports parks are being built, entrepreneurs are investing in sport-related businesses, and cities are searching for sport events to host."

China is due to stage the 2022 Winter Olympic and Paralympic Games in Beijing.

It is also widely believed that the East Asian nation may attempt to land the 2030 edition of the FIFA World Cup, despite the current rules blocking another Asian bid before 2034.

Last month, Liu Xiaoming, the Chinese Ambassador to the United Kingdom, said that hosting football's flagship global competition is one of China's football dreams.