http://english.people.com.cn/ http://english.people.com.cn/images/en/top_logo_e.gif People's Daily Online http://english.people.com.cn/90001/90779/ 6802828 http://english.people.com.cn/90001/90779/90867/6802828.html Wed, 04 Nov 2009 09:01:27 +0800 &$Horse racers compete at the Hong Kong Jockey Club, one of the largest racing organizations in the world. (Photo: CFP)&$&$ The Hong Kong Jockey Club (HKJC) doesn't just horse around. It plays an enormous role in Hong Kong's economy and is much more than a non-for-profit racing organization. The club, though not immune to the economic crisis, has fared well during the economic meltdown, a senior executive said ...]]> &$Horse racers compete at the Hong Kong Jockey Club, one of the largest racing organizations in the world. (Photo: CFP)&$&$ The Hong Kong Jockey Club (HKJC) doesn't just horse around. It plays an enormous role in Hong Kong's economy and is much more than a non-for-profit racing organization. The club, though not immune to the economic crisis, has fared well during the economic meltdown, a senior executive said in an interview with the Global Times. HKJC, founded in 1884, is the single largest taxpayer in Hong Kong, thanks to its unique non-for-profit business model, said the executive, who requested anonymity. "There are no shareholders in HKJC or bonuses distributed by the club," he said. &$&$Economic backbone&$&$ In the fiscal year 2008/2009 ending June 30, of the HK$20.14 billion ($2.6 billion) in betting and lottery revenue, 64.4 percent was paid as betting duty and profits tax to the Hong Kong Special Administrative Region (HKSAR) government, according to HKJC's annual fiscal report. The approximately HK$12 billion ($1.55 billion) in duty and profits tax accounts for 10 percent of the fiscal revenue of the HKSAR Government, according to the executive. The club helps stabilize Hong Kong's employment as well, the executive said. As one of the city's largest employers, it currently employs about 25,000 full-time and part-time workers and the part-timers account for about 11 percent of the part-time employees in Hong Kong. Every race day is prime time for the part timers as well as restaurants, bars, news stands, and taxis in the area as lots of people rush to the race track and off-track betting outlets of the club. &$&$Challenges and opportunities&$&$ HKJC, like other commercial institutions, was not immune to the impact of the financial tsunami crisis, said the executive. The club's surplus after taxes plunged from HK$3.27 billion ($421.96 million) in 2007/08 to HK$707 million last year, and the club only appropriated HK$500 million ($64.52 million) to The Hong Kong Jockey Club Charities Trust last year, compared with HK$1.78 billion ($229.69 million) in 2007/08, according to its fiscal report. &$&$Source:Global Times&$&$ &$ [1] [2] &$&$ &$ ]]> 6802776 http://english.people.com.cn/90001/90779/90867/6802776.html Wed, 04 Nov 2009 08:43:32 +0800 &$Race cars driven by Chinese drivers Dong Hebin (front) and Wei Hongjie compete in the Race of Champions Beijing 2009 at the National Stadium on November 2, 2009 in Beijing. The Race of Champions is ...]]> &$Race cars driven by Chinese drivers Dong Hebin (front) and Wei Hongjie compete in the Race of Champions Beijing 2009 at the National Stadium on November 2, 2009 in Beijing. The Race of Champions is an international motor sport event featuring some of the world's best racing and rally drivers from different disciplines including World Rally, Formula One and Nascar competing head to head using identical cars. (Photo:CFP)&$&$ A1GP racer and ex-Williams F1 test driver, Dong Hebin, has been crowned the inaugural ROC China champion on Monday, after defeating crowd favorite Han Han in the National Stadium, also known as the Bird's Nest in Beijing. Dong Hebin came through a heat, quarter final, and semi final on his route to ROC China victory, each time deposing his fellow Chinese racing drivers. In the final, he faced novelist and rally driver, Han Han, crossing the line 2.2 seconds ahead to take the title. ROC China kicks off the biggest ever Race of Champions event – this year's ROC covers three days of action, with The ROC Nations Cup on Tuesday, November 3 seeing drivers pair up to represent their country, and The Race of Champions, in which each driver guns for individual glory, on Wednesday, November 4. His victory in ROC China hands Dong Hebin a place in The Race of Champions, in which he will go head to head against such motorsport legends as seven-time F1 World Champion, Michael Schumacher, newly-crowned F1 World Champion, Jenson Button and eight-time Le Mans winner, Tom Kristensen. Dong Hebin and ROC China runner-up, Han Han, will also team up to form Team China in The ROC Nations Cup. Dong Hebin said: “I am looking forward to tomorrow, when Han Han and I will team up for The ROC Nations Cup. Looking at our efforts today, I think we have a good chance, although we will be racing Michael Schumacher and all the others. I am confident that we will be a strong team.” ROC China was not without incident – Dong Hebin's semi final rival, Wang Shaofeng, ended his challenge with a spectacular accident, in which he hit the wall and rolled his RX150 buggy. Ren Zhiguo also had a coming together with the concrete wall around the outside of the parallel tracks inside the Bird's Nest, putting him out of the very first heat against Han Han. Monday's action also included the ROC Beijing Challenge, in which some of the racing stars who will later compete for The Race of Champions itself, raced against the Chinese drivers from ROC China. A jubilant Emanuele Pirro emerged victorious, beating reigning Dakar Rally champion, Giniel de Villiers, in the final and marking himself out as a man to beat come The Race of Champions on Wednesday. Five time Le Mans 24 Hour winner Pirro said: “I really, really enjoyed the event. I drove my 2002 Le Mans-winning car in Beijing several years ago so I've been here before. But the Bird's Nest is an unbelievable location for a car race. I've been re ]]> 6802754 http://english.people.com.cn/90001/90779/90870/6802754.html Wed, 04 Nov 2009 08:38:19 +0800 6802752 http://english.people.com.cn/90001/90779/90870/6802752.html Wed, 04 Nov 2009 08:37:51 +0800 &$Source: Xinhua&$&$ ]]> 6802748 http://english.people.com.cn/90001/90779/90870/6802748.html Wed, 04 Nov 2009 08:37:05 +0800 &$Source: Xinhua&$&$ ]]> 6802745 http://english.people.com.cn/90001/90779/90870/6802745.html Wed, 04 Nov 2009 08:36:33 +0800 &$Source: Xinhua&$&$ ]]> 6802742 http://english.people.com.cn/90001/90779/90871/6802742.html Wed, 04 Nov 2009 08:35:50 +0800 &$Source: Xinhua&$&$ ]]> 6802526 http://english.people.com.cn/90001/90779/90871/6802526.html Tue, 03 Nov 2009 20:18:18 +0800 &$Source: Xinhua&$&$ ]]> 6802525 http://english.people.com.cn/90001/90779/90871/6802525.html Tue, 03 Nov 2009 20:16:56 +0800 &$Source: Xinhua&$&$ ]]> 6802355 http://english.people.com.cn/90001/90779/90867/6802355.html Tue, 03 Nov 2009 16:19:25 +0800 &$Source: Xinhua&$&$ ]]> 6802236 http://english.people.com.cn/90001/90779/90871/6802236.html Tue, 03 Nov 2009 15:26:53 +0800 &$Source: Xinhua&$&$ ]]> 6801915 http://english.people.com.cn/90001/90779/90867/6801915.html Tue, 03 Nov 2009 10:54:08 +0800 &$Brawn GP Formula One driver Rubens Barrichello of Brazil waves to the crowd after finishing the qualifying session with the best time to take the pole position at the Interlagos racetrack in Sao Paulo October 17, 2009. (Xinhua/Reuters, File Photo)&$&$ Barrichello wi ...]]> &$Brawn GP Formula One driver Rubens Barrichello of Brazil waves to the crowd after finishing the qualifying session with the best time to take the pole position at the Interlagos racetrack in Sao Paulo October 17, 2009. (Xinhua/Reuters, File Photo)&$&$ Barrichello will be accompanied by German Nico Hulkenberg, the champion of the G2 title of 2009. "Williams has always been a team that I have wanted to work for. I am in the best moment of my career and hope to bring enthusiasm and my experience to the table," said Barrichello. Williams will be the Brazilian's sixth team during his F1 career. Previously, he has driven for Jordan, Steward, Ferrari, Honda and Brawn. &$&$Source: Xinhua&$&$ ]]> 6801914 http://english.people.com.cn/90001/90779/90867/6801914.html Tue, 03 Nov 2009 10:53:14 +0800 &$Source: Xinhua&$&$ ]]> 6801913 http://english.people.com.cn/90001/90779/90867/6801913.html Tue, 03 Nov 2009 10:52:52 +0800 &$Source: Xinhua&$&$ ]]> 6801912 http://english.people.com.cn/90001/90779/90868/6801912.html Tue, 03 Nov 2009 10:52:10 +0800 &$Source: Xinhua&$&$ ...]]> &$Source: Xinhua&$&$ ]]> 6801909 http://english.people.com.cn/90001/90779/90871/6801909.html Tue, 03 Nov 2009 10:49:44 +0800 &$Los Angeles Galaxy's David Beckham walks on the field during Game 1 of their MLS Cup western conference semifinal soccer playoff series against Chivas USA in Carson, California, November 1, 2009. (Xinhua/Reuters Photo)&$&$ England midfielder David Beckham said on Monday that he will return to AC Milan late this year to better prepare himself for a World Cup role. The 34-year-old made the remarks aft ...]]> &$Los Angeles Galaxy's David Beckham walks on the field during Game 1 of their MLS Cup western conference semifinal soccer playoff series against Chivas USA in Carson, California, November 1, 2009. (Xinhua/Reuters Photo)&$&$ England midfielder David Beckham said on Monday that he will return to AC Milan late this year to better prepare himself for a World Cup role. The 34-year-old made the remarks after his club - the Los Angeles Galaxy reached an agreement with AC Milan. However, specific terms have not been unveiled. Beckham expressed his gratitude to Tim Leiweke and Bruce Arena, president and chief executive officer of AEG, the owner of the Galaxy, for allowing him to leave. "I need to give myself the best chance possible to make the World Cup squad, and playing for Milan on loan will help me to do that," he said. According to the contact, Beckham will formally join AC Milan on Dec. 28, and stay in Italy for the rest of its season which ends on May 16. He will then join the England team for the World Cup finals in South Africa before coming back to Los Angeles in late July. Before his departure, Beckham will remain with the Galaxy for the 2009 MLS playoffs and its postseason tour of Germany. As his loan deal is sealed, Beckham will miss the start of the MLS season for the second consecutive year. He scored two goals and had three assists in 11 games for the Galaxy this season. &$&$Source: Xinhua&$&$ ]]> 6801908 http://english.people.com.cn/90001/90779/90871/6801908.html Tue, 03 Nov 2009 10:48:32 +0800 &$Source: Xinhua&$&$ ]]>