If you mean Martial Arts then yes. Though not Chinese, Judo and Tae Kwon Do are martial arts and Olympic Sports. Mixed Martial Arts is a popular sport that uses parts of different martial arts, and some Chinese arts can be incorporated into this at appropriate times.
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Karate is not a sport, it is a martial art. Some styles treat it as a sport and hold competitions. In China, the martial art most commonly practiced as a sport is Wushu.