Rules and betting seen as fast track to Chinese clubs' success

Horseracing has great potential in China, but crucial changes are needed before the industry can thrive, says Louis Romanet, chairman of the International Federation of Horseracing Authorities.

China's ban on legal betting on racing and lack of a central breeding and racing organization that regulates the industry are key obstacles, he says.

The federation, founded in 1993, works to protect the integrity of races and helps improve the quality of breeding.