Formula One has signed an agreement to hold Grand Prix in Shanghai from 2004 to 2010. This will be the first time that a Chinese city has hosted a Formula One race. The 5.5km-long track will be constructed by Shanghai International Circuit Company. The whole facility will cost Yn2bn to build and will also include a theme park.
Max Mosley, president of Formula One's governing body, the International Automobile Federation, said Shanghai was chosen over other cities because of its infrastructure, many hotel rooms and ability to build a highquality track.
Other Chinese cities are still planning to build motor racing tracks, including Beijing, Wuhan and Xian. However, they are unlikely to have a chance to host Formula One races at least before 2010. A circuit in the southern city of Zhuhai was scheduled to host a Formula One race in 1998, but the track failed to meet international standards and there were concerns about local transport infrastructure.