Fosun eyes equestrian and polo

Sunvision Capital, a subsidiary of China’s Fosun Group, has announced a 51 percent stake in Zhongma International Equestrian Sport Development (Beijing) Ltd., along with the establishment of a joint venture company by partnering with London-based Kylin Polo Team, founded by Chinese polo player Duncan Qiu.  

Zhongma International, founded in 2013, is the unique organizer of China Tour, one of the most influential equestrian tournaments in the country. The event was started in 2014 and is held in Beijing, Dalian, Shanghai and Guangzhou every year.

At the news conference held on January 8, Zhongma International also signed a strategic partnership with Beijing Turf & Equestrian Association (BTEA), with the goal of working together in event cooperation, business development, equestrian education, and industry standards and specifications.

“China is one of the cradles for the world’s horse breeds as well as one of the first countries to tame horses,” as Guo Guangchang, chairman of Fosun Group, said, “Horse-related culture is a reflection of cultural confidence for Chinese people. Therefore, China should boost the development of the equestrian sports industry to a level that matches its cultural confidence.”

Source: n.cztv.com

Proofread by William Logsdon