Royal Insight Forum

QuotePeter Phillips, the Queen's eldest grandchild, has been hired by the Chinese authorities to launch a horse racing industry to rival Britain's.

Mr Phillips flew to Beijing last week for the official unveiling of the China Jockey Club, which will run the country's nascent racing industry.

In exchange for his role as the China Jockey's Club's official global ambassador, Mr Phillips is to be reimbursed with shares in the venture.

If the Chinese horse racing industry takes off – as it is expected to do, since it has the backing of the ruling Communist Party – Mr Phillips could find himself lauded as the most astute entrepreneur in the Royal family.

More: Queen?s grandson puts horse racing in China under starter?s orders - Telegraph (http://www.telegraph.co.uk/news/11125824/Queens-grandson-puts-horse-racing-in-China-under-starters-orders.html)