The inaugural China Equine Cultural Festival (CECF) Singapore Cup is set to be the richest horse race in the local racing calendar.

The Feb 22 Group 1 race boasts a prize purse of $3.05 million, a shade over the $3 million on offer for May's Singapore Airlines International Cup (2,000m).

The CECF Singapore Cup will be run over 1,800m at the Singapore Turf Club's Kranji Racecourse and is organised by the China Horse Club (CHC).

The race is open only to horses owned by CHC members, including the likes of 2013 Longines Singapore Gold Cup winner Tropaios, which is trained by top Australian handler Michael Freedman.

On Feb 21, a day before the big race, the CHC will host a charity event to promote Chinese art, culture and artists. It is part of the two-day festival which CHC intends to use to reinforce Singapore as a "cultural bridge" between the East and the West.

A second feature race, the Group 3 CECF Singapore Prestige Classic will serve as undercard to the marquee event. The $200,000 race will be run over 1,400m and is a handicap race for three-year-olds but is open to all local gallopers.

Trophies for both races were unveiled on Tuesday at a ceremony held at The Ritz-Carlton Hotel.

CHC chairman Teo Ah Khing said that the race is a unique event and aims to build on the success of other CEFC events in mainland China.

Among the world-class overseas jockeys set to ride on Feb 22 are Australians Tommy Berry and Hugh Bowman and France's Christophe Soumillion and Britain Jamie Spencer.