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I am thinking of upgrading my 1980 Thoroughbred horse float. Can you give your opinion on the quality of the Chinese made ones? Should they be avoided? Which ones would be the better ones and the least suitable? Thanks. Also looking to sell our Mitsi Pajero 3.5 V6 and get a diesel. Would you say the cost of running would work out similar to the petrol once you have paid the higher registration fee and road tax? Looking at the diesel pajero's they seem to have small engines, what size diesel would I need for a double horse float? thanks

Horse floats are not really the AA's area of expertise, but as someone with family members into the equestrian scene, I have some limited knowledge of them.
From what I have observed and those Chinese floats I have seen, they offer a lot of equipment for the money, and build quality seems good.
I'm aware of the argument that Chinese manufacturers will build whatever you want, so the possibility exists for importers to request a build down to a price, but from those currently on the market in NZ, the quality looks to be every bit as good as many of the locally built ones - better than some.
Whatever you decide, it's likely to be a big improvement on a 33 year old Thoroughbred which doesn't have a galvinised chassis, with corrosion being the biggest problem.
Regarding a tow vehicle, diesel is great for towing due to the torque. Fuel economy will be much better than petrol (particularly under load when towing), but the overall cost of running will be roughly the same due to the factors you mention.
As far as Pajero diesels go, the 2.5 litre diesel had problems, but 2.8s were OK. Depending on age, mileage and budget you are considering, a Toyota Prado 3.0 litre diesel may be a good alternative.