Government urged to build on racing's 'soft power' and target Chinese investment

Racing is a "soft power" asset offering "huge potential" for the UK government in diplomacy and trade, according to a new report.

The report in particular says Britain can benefit directly from Chinese investment in British racing and indirectly by using the appeal of events such as Royal Ascot.

Compiled by Henham Strategy and commissioned by the BHA, Great British Racing International and Ascot, the report said the government was in the process of producing its first Soft Power Strategy, examining how the country can make best use of its cultural and sporting assets.

Racing "is a soft power asset already working for the UK internationally," the report added, "yet it can do more and government needs to be shown the significant role that racing can play in a global context".

Sir Hugh Robertson launched the reportCredit: Patrick McCann

Former sports minister Sir Hugh Robertson, who launched the report, said: "We believe that horseracing is a sport at which Great Britain leads the world, and this report demonstrates how our big race-meetings and high-quality bloodstock are already a major international draw.

"I'd like to see the UK government work more closely with British racing in the future both to promote the sport as an investment and influencing opportunity and to use its powerful international appeal to Chinese audiences and beyond."

The report highlights British racing's international reach, with interest and investment coming from countries such as the US, China, Japan, Ireland and many of the gulf states.

"Connections made through racing therefore align very closely with the UK government’s international commercial priorities – making it one of the sports which the Department for International Trade should focus more of its energy on," it added.

However, the report goes on to say that despite engaging with the sport across a range of issues, "currently the UK government does not fully take advantage of this opportunity, and barely interacts with racing to identify people of common interest, or individuals who government ministers might be advised to meet".

The report recommends that government and racing should work together to evaluate areas of common interest and initiate a joint programme of meeting and engaging with major investors in Britain who are often influential in their home countries.

It adds that the government and racing should work together more formally for long-term mutual benefit, "for example in China where implicit government support through being invited on trade delegations and official overseas missions is essential in establishing legitimacy".

This year's Royal Ascot was broadcast live in China through the Sina network, which has 270 million subscribers, in a deal which includes social media coverage through the Weibo channel which has 600 million accounts.

Ascot chief executive Guy Henderson: 'China an important emerging market'Credit: Edward Whitaker

Ascot chief executive Guy Henderson said: "China is a very important emerging market for us with an increasing number of owners with interests in British racing.

"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 horseracing into Chinese life which we hope will develop into investment into the sport to the benefit of Britain."

James Oldring, operations director for Great British Racing International which promotes British racing overseas, added: "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 capitalise on the openings presented by China’s growing horseracing industry and expanding economy."

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