The Nagqu Horseracing Festival begins on August 1 on the Gregorian calendar each year, and lasts from five to 15 days.

The festival is an important folk festival in Tibet. People gather in Nagqu Town and construct a "tent city." Many dressing themselves and their finest horses in their best outfits, and thousands participate in thrilling horse races, archery and horsemanship contests. Other folk activities and commodity fairs are also held.

The horseracing festival held in Nagqu is the grandest of the racing festivals held throughout Tibet.

August is the peak season for Nagqu grasslands, with stiff winds and rain at night but the sun shining brightly during the day. There is a vast expanse of grassland on the north side of Nagqu, where thousands of tents are set up during the festival.

Tens of thousands of Nagqu herdsmen camp there. After grand opening ceremonies, various recreational and trade activities start, and the horseracing, yak races, tug-of-war contests, rock carrying challenges, sgor-gzhas (Tibetan group dances), and Tibetan operas perform.

Dressed in traditional military attire, participants proudly display their riding skills, attracting enthusiastic crowds of locals and pilgrims.

The horse racing festival and fairs also serve as a traditional occasion for horse-trading. The buying and selling attracts Tibetans from near and far.