Abstract: This paper analyzes the historical change of Chinese sports industry policy, i.e. the transformation from sport control by omnipotent government after the founding of People's Republic of China through the subsequent commissioning reform to the multi-interactive governance. On this basis, the paper conducts a normative discussion and defines the triple value connotation of Chinese sports industrial policy, i.e. the value connotation of sports policy respectively as public policy, government-led industry in international competition, and sports industry policy in the context of national governance. To improve and optimize the policy system of Chinese sports industry, it is necessary to improve the national policy supply capacity, incorporate multi-subjects into the governance framework, and build an industrial structure of multi-governance and coordinated development through continuously enhancing the guiding value, incentive value, integration value, normative value and feedback value of sports industry policies

Key words: sports industry, policy value, governance, value realization