China - The Next Big Horse-Racing Center?

FROM THE OUTSIDE, there doesn't appear to be anything special about Ren Ningning's farm southeast of Beijing, tucked among plots of lotus root and other crops. But once beyond the redbrick wall and locked iron gate, a visitor enters into a rich man's fantasy land—a sprawling, 100-acre equestrian estate with row after row of stables and some of the priciest horses in China. There is a clubhouse filled with racing paraphernalia: saddles emblazoned with Chinese flags, medals and trophies from past victories, and an odd enormous floor lamp—in the shape of a horse, of course. Outside, there's space for Ren's 150 Australian, Japanese and Irish horses to exercise, as well as a 900-meter training track surrounded by wooded groves. Some of the stables are air-conditioned to make sure the thoroughbreds stay comfortable, and there is a swimming pool the horses can use to cool off in the summertime. Ren, who built his wealth through a medley of businesses selling everything from car parts to concrete, has spared no expense to ensure his farm turns out the best-trained animals around. He set up a breeding station with an $800,000 Japanese black stallion and hired a full-time staff of 30 keepers and 15 jockeys. He has his own brand for his animals: A stylized "R," for "Ren," with a horseshoe underneath. Sometimes Ren wanders out himself for a ride, dressed in traditional riding attire, with a riding cap and whip. For many of the more elite, of course, raising horses is merely a hobby. But at age 60, Ren has set his sights on an unusual dream. In the world of horse racing, the best-known hubs are England, Dubai, Paris and, naturally, Kentucky. But in the next 10 years, Ren thinks he can turn China into the world's next big horse-racing center, rivaling any of those. He wants only the best—the best jockeys, the best horses and the best racetracks. And for now at least, money and effort are no object for Ren, who sports strands of long gray hair and the kind of soft, round belly that often signifies wealth in China. There's only one problem. Although horse racing technically is legal in China, it has long been frowned upon by Beijing authorities, who see it as a decadent holdover from Western colonial times. Most important, they have prohibited betting, an activity that draws many of the spectators in other parts of the world...more