The rising popularity and investment in UK racing from China represents a trade opportunity for the country, concludes a new report from the British Horseracing Authority.
The report, British Horseracing’s International Influence, examines ways in which British racing can both influence and support the UK government’s trade objectives with countries such as China.
“Our ambition is to continue to grow our brand and represent British racing on the global stage and it is enhanced by such an extensive broadcast network with unprecedented reach during the Royal Meeting,” said Guy Henderson, Ascot Racecourse CEO in a press release. “Royal Ascot 2019 was once again broadcast live in China through the Sina network, which has 270 million subscribers. This broadcast deal was first struck in 2017 and includes active social media coverage through Weibo, China’s leading social media channel with 600 million accounts.
“China is a very important emerging market for us with an increasing number of owners with interests in British racing,” he said. “To be able to provide this coverage in China, where the ceremony and tradition of Royal Ascot is of considerable interest, is a key part of our international broadcast strategy. This partnership with Sina presents a crossover of sports and social, introducing the unique culture of British horse racing into Chinese life which we hope will develop into investment into the sport to the benefit of Britain.” China Horse Club and Yulong Investments having already submitted runners across a number of major British meetings, including Royal Ascot.
“British racing has long had an attraction to international investors, but China could be fertile ground for attracting new interest,” said James Oldring, Operations Director at Great British Racing International which promotes British racing overseas. “There are already a number of Chinese investors who have made significant forays into British racing but there is a golden opportunity for the sport to capitalize on the openings presented by China’s growing horseracing industry and expanding economy.”
