No horse rac­ing for Hainan firms

Global Times US Edition - - BIZOVE -

Many com­pa­nies based in South China’s Hainan Prov­ince in­clud­ing Hainan Ex­press­way Co, Shuangcheng Pharma, Xin­long Hold­ing (Group) Co and Hainan Shen­nong Gene Tech­nol­ogy Co have de­nied that they’ll get in­volved in horse rac­ing or bet­ting on such races, the Se­cu­ri­ties Times re­ported on Tues­day.

China has said that it will en­cour­age horse races in its south­ern­most prov­ince, the first time that the coun­try of­fi­cially an­nounced it would en­cour­age such ac­tiv­ity, in a bid to make Hainan into a pilot area for ex­pand­ing open­ing-up poli­cies.

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