Abstract: Using the methods of literature and statistical analysis, this present paper conducts an in-depth research on the concepts and related factors, the policies and regulations, and the operation characteristics of sports special bonds in the new era of China. The results show that: the use of sports special bonds has helped make achieve remarkable achievements in the construction of large-scale sports projects, the improvement of cultural tourism facilities, and related laws and regulations, and the improvement of resource allocation rates. However, its development is still faced with such problems as: small scale, inadequate recognition and attention; single issuance and investment entities, and short durations; relatively single source of debt repayment and poor return on corresponding projects; lack of clear and operational support policies, and incomplete risk prevention and performance evaluation. In the future, it is necessary to develop laws and regulations on sports special bond, and related policy systems; to give full play to the government's economic regulation and control capabilities; to strengthen the training of think tanks; to optimize the issuance and investment structure; to improve the operational efficiency of corresponding projects, and to broaden the sources of debt repayment.

Key words: sports special bonds, issue background, sports industry, promotion strategies