Coolmore happy with Chinese deal
Coolmore have expressed their delight at their involvement in setting up a thoroughbred industry in China.
The County Tipperary stud will help develop a similar operation in the city of Tianjin, with a world-class equine centre due to open there next year.
Coolmore's JP Magnier said: "We are delighted to be one of the first Irish companies to kick-start this partnership and represent Ireland's hugely successful horse breeding and racing industries.
"Today's announcement marks the culmination of huge efforts by the Irish government and Department of Agriculture, led by Minister (Simon) Coveney, who have been trying to develop new Irish trade links with China.
"The sector plays a huge part in the Irish economy, currently generating 1.1 billion euros annually.
"This industry is something we are good at, and today one of the biggest markets in the world has recognised that and has chosen to partner with Ireland".