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China's sportswear giants are winning the home game

That engine is increasingly powered by three domestic champions—Anta, Li-Ning and Xtep—with Anta now the market-share leader, commanding a roughly ** per cent share of the market. Adidas and Nike, however, remain formidable rivals, although they will surely face new challenges, given the current US-China trade relations.

What sets the leading Chinese trio apart is a business model rooted at home—overwhelmingly domestic revenue, design cues attuned to Chinese consumers and product innovation that moves beyond copycat narratives.