A Sino-British joint venture is planning a luxurious commercial and entertainment complex around a new racecourse in Wuhan, Hubei province, South China Morning Post said. The complex will include a hotel and convention centre, a supermarket and an apartment block, as well as a membersï¿½ club with other sports facilities, restaurants and meeting rooms. In addition to horse racing, there will be a thoroughbred breeding centre and a horse riding school for the public.
Chinese law still forbids gambling, but the developers hope that the racing will attract customers to the catering and other facilities, which will provide the profit for the development. The investment comes mainly from the UK-registered International Development Group, with a 5 per cent stake held by Wuhan Dongxing Industry Development Co. Proceeds from the racing
are forecast at Yn80m a year, a proportion of which will go to social development projects.