Founded in 1884, The Hong Kong Jockey Club has become one of the largest and most respected racing organisations in the world. It is Hong Kong's only authorised operator of horse racing, the city's most popular spectator sport, running racecourses at Happy Valley and Sha Tin as well as three public riding schools. The club also operates the Government's Mark Six lottery and offers betting on football matches held outside Hong Kong.

The club is Hong Kong's largest single taxpayer, contributing $12.34 billion to the public purse in the 2004-05 season, or about 9.7 per cent of all taxes collected by the Inland Revenue Department during the year. It is also one of the city's largest employers, with over 22 000 full- and part-time staff.

In addition, the club is a major community benefactor, operating under a unique, not-for-profit business model whereby its surplus goes to charity. In the 2004-05 season it donated $1.02 billion to some 114 local charity and community projects through the Hong Kong Jockey Club Charities Trust.

Increasingly, the club takes a proactive approach to its community donations, working closely with the Government, NGOs and charity groups to tackle pressing social issues and extend its reach into diverse areas of need. A good example is "P.A.T.H.S. to Adulthood: A Jockey Club Youth Enhancement Project", launched in early 2005. Developed in collaboration with various Government departments and academic institutions, this pioneering project aims to help adolescents of secondary school age establish self-identity, develop positive beliefs and values, and enhance their self-confidence and sense of responsibility.

The club's experience in running equestrian events and its world-class facilities, especially in the areas of equine healthcare and import/export protocols, played an important role in securing the International Olympic Committee's approval for the equestrian events of the 2008 Beijing Olympics to be moved to Hong Kong. The club has agreed to provide the major venues for the Olympic equestrian events at its own cost as a further demonstration of its commitment to the community. It will also make its equine hospital and laboratory facilities available to the organisers during the Olympics and Paralympics period.

During 2005, Hong Kong further enhanced its reputation in the international horse-racing world with some outstanding performances by locally trained horses. Silent Witness achieved his 17th consecutive win, breaking the modern-day record of legendary United States champion Cigar. Vengeance of Rain was the pride of Hong Kong when he outran a world-class field to take the International Group One Cathay Pacific Hong Kong Cup. In doing so, he also became the first Hong Kong horse to win the World Racing Championships.

Hong Kong horses also triumphed in two new international challenge series. Cape of Good Hope won the inaugural Global Sprint Series with successes at top international level in both Australia and England, while Bullish Luck wrapped up the new Asian Mile Challenge which combined two of the region's leading feature races, the Champion's Mile in Hong Kong and Yasuda Kinen in Japan.