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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 r...

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