Today is HKSAR Establishment Day, the 14th Anniversary of Hong Kong's reunification with China. I expect many of you will have arranged activities or gatherings to make the most of the long holiday weekend. For the Club's part, we've organised a special Hong Kong Reunification Day race meeting at Sha Tin this afternoon, with three feature races on the programme and a wide array of on-course activities.
Although I didn't come to work in Hong Kong until after 1997, I was well aware of the events leading up to the handover, which attracted wide media coverage internationally. And I was already very familiar with Hong Kong racing by that time, and knew how much the sport meant to local people, so I was happy to hear that the Chinese leaders had pledged that "the racing will continue". That simple statement sent a very powerful message to the world, as horse racing had become symbolic of Hong Kong's energetic and cosmopolitan lifestyle. It meant that people's daily lives would continue unchanged after 1997.
The horse racing has indeed continued in Hong Kong since 1997, living up to the words of that famous pledge. Particularly over the past decade, we have witnessed a steady improvement in standards and seen Hong Kong racing moving into a new dimension internationally, earning acclaim from other racing fans and racing operators all over the world. The fact that we had a record number of 19 Hong Kong racehorses enlisted in the World Thoroughbred Rankings last year, compared to the single representative we had back in 1998, illustrated the massive progress we’ve made.
Having said that, things have not always gone smoothly over the past 14 years. Like other Hong Kong people, we've had to face some difficult challenges in that period, such as the financial crisis of late 1997 and the SARS outbreak in 2003. I remember that when the SARS crisis hit in April that year, it was about a month before the Audemars Piguet QE II Cup. In the space of the next fortnight, social life in Hong Kong almost grounded to a halt, as people were worried that gathering at public venues would increase the risk of contracting the disease.
We seriously considered cancelling this international meeting, but in the end decided to go ahead, as we wanted to send a message to the world that – just as in 1997 – life in Hong Kong was continuing as normal. And, in fact, once racegoers knew that we'd stepped up our disinfection and cleaning measures at the racecourse, the attendance was quite satisfactory.
Later the same year, when the economy and employment situation were still very difficult in the aftermath of SARS, we were able to create 3,000 new jobs after the Government agreed to allow us to introduce football betting. And similarly in 2009, in the wake of the global financial turmoil, we added a further 4,000 jobs. So the Club has been able to provide an important stabilising effect in society at these difficult times.
Another notable statistic is that even though racing turnover is still some way below the pre-1997 boom levels – mainly due to sharply increased competition in the region and the growth in illegal and offshore betting – the Club has managed to increase its charitable donations by some 50% since the handover, to a record HK$1.52 billion last year.
But one looks at it, horse racing has certainly been one of Hong Kong's big success stories since 1997. So I think it's highly appropriate that we should celebrate the HKSAR's birthday at Sha Tin Racecourse with tens of thousands of passionate racing fans.
As a special celebratory gesture, we will give every racegoer this afternoon a complimentary birthday cake – in the shape of HK$10 cake voucher handed out on admission to the racecourse, redeemable at a local bakery chain any time in the next fortnight. So I hope you will come along with your family and friends to enjoy a wonderful day in Sha Tin.
We will have many prominent people and community partners in attendance, as besides the Hong Kong Reunification Cup, we will be staging two other trophy events on the 11-race card – the 18 Districts Cup and the Federation of Hong Kong Guangdong Community Organisations Cup. With the season rapidly drawing to a close, we will also see some prominent horses being given a final run, so our racing fans can expect to see some quite fiercely-contested battles.
The Hong Kong Reunification Cup has attracted a very competitive field and with the expected good pace, it gives every horse a fair chance. Leading City has drawn Gate 9 and is one of the proven leaders, as are Blaze King from Gate 5 and Good Words coming out of Gate 13. I think Leading City is now a stronger horse at the distance of 1400m. Needing to carry the top weight in this 1200m race, it won’t make it easier for him and I think he’s for me only a top-three chance. I prefer Rich Unicorn and Good Words who both run at their best distance. Able Speed is in terrific form, and I think he’s a contender which can challenge Rich Unicorn and Good Words, especially his overseas form suggests he can handle a softer surface too.
The Federation of Hong Kong Guangdong Community Organisations Cup should be run at a good to slow pace, with Healthy Blueberry in the lead, while Amityship and I Smell Money in a prominent spot. I Smell Money has a good place chance for me but I like his stable mate Glory Of India even more, as he’s working well and is proven of handling the wet surface. Tom's Eighth was blocked for a long time in the straight in his last run and he has a solid chance for me, too.
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