Chinese Rich Man Madly Purchase almost 100 Japanese Racehorses this year

Stud farms in Japan have  sold 96 horses to China this year ,compared to zero last year, in a boon to a sector in economically ailing Japan that is driven by the rise of China's wealthy elites, industry officials said."This year demand from China seems to be growing, with a Chinese buyer purchasing 50 horses in March, then 28 horses last month," an official at the Japan Race Horse Registry said."Another Chinese businessman bought 18 horses last month for about 47 million yen (566,000 dollars)."

"We've heard that China's rich people are enjoying private horse-racing in their own fields, showing them off to friends as status symbols," said an official at the Hidaka Horse Breeders' Association in Hokkaido."We have ambivalent feelings -- we're partly thankful to Chinese customers for purchasing the horses, and partly regretful that the racehorses will not have the chance to win real races in Japan," he said."For horse breeders, the biggest delight is if your horse wins the race and the value of the horse's bloodline rises."

China has allowed horse-racing since 2008 but bans money bets on them.However, developers are building race-tracks in several cities in hopes that the ban will be lifted, among them the four-billion-dollar Tianjin Horse City being built by Dubai's Meydan and the Shanghai Race Club.

Chinese Rich Man Madly Purchase almost 100 Japanese Racehorses this year

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