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France Chosen By China To 'Develop' Thoroughbred Industry
Meanwhile, on the back of buoyant results at the current Arqana Yearling Sale (18-21 August) in France, the prominent auction house has announced "a joint venture with TAK Group that will focus on organizing auction sales in China", reports thoroughbreddailynews.com. Desert Star Holdings, a subsidiary of TAK "is in the process of developing a racecourse and training center in Tianjin, and hopes to make strides with a racing and breeding industry as early as 2014." Eric Hoyeau, Arqana CEO commented: "We are particularly pleased and enthusiastic at the idea of an association with TAK in this project for the future… Through this exclusive partnership, Arqana will gain a foothold in China, a country where racing is yet to be developed, but which of course has the potential to one day become the world's largest market. This project can provide a major growth opportunity not just for Arqana, but also for the French market as a whole, since the close ties that we intend to build with our Chinese partners will also have positive implications for breeding and racing in France… TAK Group are already recognized experts in the development of racecourses and, together with its Chinese partner, the Tianjin State Farm Agribusiness Group, we share the same vision for the development of a racing industry in China."