Outlook bright for China's horses

Chinese horses are set to gallop on the world stage. And not just in 2014, China's "Year of the Horse".

At least, that's the prediction of Louis Romanet, chairman of the Paris-based International Federation of Horseracing Authorities, an industry group that oversees breeding, racing and betting issues in 60 countries.

During a trip to the capital last month to attend the Beijing International Fair for Trade in Services, he said China's rise as the world's second-biggest economy could create more room for horse racing. He says the Inner Mongolia autonomous region could be a spur for the industry.