Thoroughbred racehorses join pig semen on the list of British-Chinese trade deals

 

It’s not cars, trains, or even planes which are set to boost Britain’s fortunes abroad. There’s no manufacturing involved, and forget any notions of ‘Made in the UK’ factory-produced goods.

Instead, the salvation of Britain’s struggling economy could be on four feet, rather than four wheels. For thoroughbred racehorses are leading the charge for the millions to be made from exports to China.

A new bilateral agreement between Britain and China, announced this week will open the door to the export of some of Newmarket’s finest – seeing some of the best British racehorses ending up in the hands of investors in China. While the export of horses to far flung destinations is not new, with the market for thoroughbreds from Britain worth £118 million each year, this marks the first attempt to get a foothold in China.

The announcement was made during a visit to Newmarket racecourses, in Suffolk, by Zhi Shuping, China's minister for import controls. "Riding, breeding and training horses is increasingly popular in China, so this deal will ensure we can make the most of Britain's world-famous thoroughbreds in boosting our burgeoning equine industry," he said.

The Chinese government delegation saw one of Britain’s most valuable equines, Frankel. The retired racehorse, trained by Sir Henry Cecil, and owned by Prince Khalid Abdulla, ended an unbeaten career by winning the Champion Stakes at Ascot in October 2012. He is now in stud, where a single one of his foals costs around £125,000.

The trip to the home of British racing was arranged after a visit to China by environment secretary Owen Paterson last year, as part of a trade delegation led by Prime Minister David Cameron.

"This deal will boost the UK economy by up to £10 million, and once again demonstrates the value of our global reputation for high-quality exports," said Mr Paterson. "Through working in partnership with industry on export deals, we can secure great results for the British economy," he added.

But the true value could be far greater, with Britain’s reputation for breeding world-class thoroughbreds likely to prove attractive to rich Chinese horse enthusiasts.

Carter Carnegie, international executive, Great British Racing International, which promotes investment in the sport, commented: “It is no secret that China is an emerging market for thoroughbred racing, and could form a valuable export market for British racing in the future.”

And the new agreement will help other horse-related businesses looking to expand in the Far East, according to Claire Williams, executive director, British Equestrian Trade Association. “It will give a real boost to those companies developing markets in China for other related equestrian products,” she said.

The racehorse export agreement means that horses have joined pigs in adding to the country’s coffers. For one of the deals struck during the trade visit to China led by the Prime Minister in December will see Britain export pig semen in an agreement worth £45 million a year.

Voices
The Sumatran tiger, endemic to the Indonesian island of Sumatra, is an endangered species
voicesJonathon Porritt: The wild tiger population is thought to have dropped by 97 per cent since 1900
Arts and Entertainment
Beast would strip to his underpants and take to the stage with a slogan scrawled on his bare chest whilst fans shouted “you fat bastard” at him
musicIndie music promoter was was a feature at Carter gigs
News
news
Arts and Entertainment
Story line: Susanoo slays the Yamata no Orochi serpent in the Japanese version of a myth dating back 40,000 years
arts + entsApplying the theory of evolution to the world's many mythologies
PROMOTED VIDEO
News
Performers dressed as Tunnocks chocolate teacakes, a renowned Scottish confectionary, perform during the opening ceremony of the 2014 Commonwealth Games at Celtic Park in Glasgow on July 23, 2014.
news
Life and Style
Popular plonk: Lambrusco is selling strong
Food + drinkNaff Seventies corner-shop staple is this year's Aperol Spritz
News
Gardai wait for the naked man, who had gone for a skinny dip in Belfast Lough
newsTwo skinny dippers threatened with inclusion on sex offenders’ register as naturists criminalised
News
Shake down: Michelle and Barack Obama bump knuckles before an election night rally in Minnesota in 2008, the 'Washington Post' called it 'the fist bump heard round the world'
newsThe pound, a.k.a. the dap, greatly improves hygiene
Arts and Entertainment
La Roux
music
Arts and Entertainment
Graham Fellows as John Shuttleworth
comedySean O'Grady joins Graham Fellows down his local Spar
News
people
News
ebookA unique anthology of reporting and analysis of a crucial period of history
News
Ross Burden pictured in 2002
people
News
Elisabeth Murdoch: The 44-year-old said she felt a responsibility to 'stand up and be counted’'
media... says Rupert Murdoch
Arts and Entertainment
tv
Extras
indybest
Sport
Arsenal signing Calum Chambers
sportGunners complete £16m transfer of Southampton youngster
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Data Governance Manager (Solvency II) – Contract – Up to £450 daily rate, 6 month (may go Permanent)

£350 - £450 Per Day: Clearwater People Solutions Ltd: We are currently looking...

Java Developer - Banking - London - Up to £560/day

£500 - £560 per day: Orgtel: Java Developer FX - Banking - London - Up to £560...

HR Business Analyst, Bristol, £350-400pd

£350 - £400 per day + competitive: Orgtel: My client, a leading bank, is curre...

Account Manager - (Product & Account Management, Marketing)

£26000 - £30000 per annum + Benefits: Ashdown Group: Account Manager - (Produc...

Day In a Page

The children were playing in the street with toy guns. The air strikes were tragically real

The air strikes were tragically real

The children were playing in the street with toy guns
Boozy, ignorant, intolerant, but very polite – The British, as others see us

Britain as others see us

Boozy, ignorant, intolerant, but very polite
Countries that don’t survey their tigers risk losing them altogether

Countries that don’t survey their tigers risk losing them

Jonathon Porritt sounds the alarm
How did our legends really begin?

How did our legends really begin?

Applying the theory of evolution to the world's many mythologies
Watch out: Lambrusco is back on the menu

Lambrusco is back on the menu

Naff Seventies corner-shop staple is this year's Aperol Spritz
A new Russian revolution: Cracks start to appear in Putin’s Kremlin power bloc

A new Russian revolution

Cracks start to appear in Putin’s Kremlin power bloc
Eugene de Kock: Apartheid’s sadistic killer that his country cannot forgive

Apartheid’s sadistic killer that his country cannot forgive

The debate rages in South Africa over whether Eugene de Kock should ever be released from jail
Standing my ground: If sitting is bad for your health, what happens when you stay on your feet for a whole month?

Standing my ground

If sitting is bad for your health, what happens when you stay on your feet for a whole month?
Commonwealth Games 2014: Dai Greene prays for chance to rebuild after injury agony

Greene prays for chance to rebuild after injury agony

Welsh hurdler was World, European and Commonwealth champion, but then the injuries crept in
Israel-Gaza conflict: Secret report helps Israelis to hide facts

Patrick Cockburn: Secret report helps Israel to hide facts

The slickness of Israel's spokesmen is rooted in directions set down by pollster Frank Luntz
The man who dared to go on holiday

The man who dared to go on holiday

New York's mayor has taken a vacation - in a nation that has still to enforce paid leave, it caused quite a stir, reports Rupert Cornwell
Best comedians: How the professionals go about their funny business, from Sarah Millican to Marcus Brigstocke

Best comedians: How the professionals go about their funny business

For all those wanting to know how stand-ups keep standing, here are some of the best moments
The Guest List 2014: Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks

The Guest List 2014

Forget the Man Booker longlist, Literary Editor Katy Guest offers her alternative picks
Jokes on Hollywood: 'With comedy film audiences shrinking, it’s time to move on'

Jokes on Hollywood

With comedy film audiences shrinking, it’s time to move on