Just weeks after being recognized by the esteemed Shanghai Entrepreneur Association and helping launch the World Tourism Forum, Lucerne, Teo Ah Khing returned to China to talk to the country’s next generation of leaders about the untapped potential of the nation’s emerging thoroughbred industry.
Mr Teo, the Chairman of the China Horse Club, was invited to speak by the School of Management of Fudan University, one of China’s highest profile learning institutions, to discuss the subject of “Taking the lead: New opportunities and value innovation in China’s horse industry”.
Speaking with eloquence, the chairman explained how China’s horse industry can play a role in helping achieve President Xi Jinping’s “One Belt, One Road” initiative. His presentation came just days before he was singled out by Xinhua News Agency’s CanKao XiaoXi as the pioneer in the development of China’s horseracing industry.
Mr Teo explained how an emerging thoroughbred industry will support the “One Belt, One Road” initiative in the following ways:
Green industry:
The Central Government will meet 10 of 25 national targets relating to the introduction of green industries and technologies in the 13th Five Year Plan. Horse racing is a low pollutant and, equally importantly, the growing of specialized grains, the raises of horses in paddocks and the management of horses can help offset some of the impact of some high pollutant industries.
Employment:
The Central Government is determined to migrate 100 million people from rural centres into Third or Fourth Tier Cities by 2020 as part of its regional economic development program. The creation of jobs through new industries and the expansion of clean industries is essential to incentivize the movement of these people into these locations. Horse racing is an industry that is particular to rural centres. Importantly, it is also one of the few industries that will not be heavily affected by automation, so as the industry develops it volume of jobs created continues to rise. Internationally, one thoroughbred horse creates five jobs. This ratio of new jobs to horses is expected to be mirrored in China, especially as the industry goes through a dramatic growth phase.
Creating New Export Markets:
Under the “One Belt, One Road” initiative there will be a huge push to grow and promote domestic industries and position them to succeed into international markets. The promotion of Chinese products and services, coupled with the drive to promote green industries, augurs well for the creation of a Chinese based breeding industry which could have the potential to supply thoroughbreds not only domestically but into international markets as well.
Tourism:
That the CECF, which has quickly established itself as China’s premier lifestyle, business and thoroughbred racing event, can become a tourism drawcard for Ordos, Inner Mongolia. In addition to this, the China Horse Club is planning to launch a feature winter horse racing meeting in December 2018 that will further build on the success of the CECF and help to reinforce more than 5,000 years of horse culture.
Entertainment:
“One Belt, One Road” is determined to create new and engaging forms of entertainment for the Chinese and elite sport has long been a source of entertainment both in China and around the world. Thoroughbred racing has the capacity to engage mass audiences and to also capture and hold the interests of high network individuals who are interested in investment opportunities as well as new leisure experiences.
The requirements to ensure such a dynamic industry reaches full maturity are many. Mr. Teo raised the possibility of the China Horse Club working in collaboration with leading institutions including Fudan University, to promote opportunities for talented Chinese, to engage in research projects and to facilitate international exchanges.