The Happy Valley Million Challenge, a new initiative launched this season, kicks off on Wednesday, September 3. The first race of the competition will be run as the Hong Kong Country Club Challenge Cup that night. This Class 3 event over 1200m is programmed as Race 6. Mrs. Pang Yuk Wing, wife of the Chairman of the Hong Kong Country Club, will present the Challenge Cup and a miniature to the winning owner.

Racing in Hong Kong turned professional in the early seventies. At that time, the Hong Kong Country Club, along with a number of other prominent local Clubs, supported this transition by donating trophies. The Hong Kong Country Club Challenge Cup was first run on 12 January 1974 and has since been competed for annually.

The Happy Valley Million Challenge will comprise Happy Valley races of Class 3 or above from 1 September to 31 December 2003. The horses finished in the first five placings in each race will be given points according to the following system: winner 12 points, second placed 6, third placed 4, fourth placed 3, and fifth placed 2. The list of the 10 leading contenders will be published after each Happy Valley meeting.

When the competition concludes at the last Happy Valley meeting in December 2003, a total bonus of HK$1,000,000 will be awarded to the owners of the three horses with the highest accumulated points. The horses with the most points will be awarded $650,000 and a trophy, the second will receive $250,000, and the third $100,000.