Shanghai to Host Formula One Championship Series Racing 2004

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Last updated at: (Beijing Time) Thursday, October 17, 2002

Shanghai to Host Formula One Championship Series Racing 2004 - 2010

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Shanghai to Host Formula One Race

After half year's hard negotiations, Shanghai International Circuit Co. Ltd has recently reached agreement with the International Automobile Federation (FIA) to host Formula One Championship series racing between 2004 and 2010. Shanghai citizens will have chance to enjoy the first F1 race in two years.

The city's bidding received support from the State General Administration of Sports (SGAS) and Mr Bernic Ecclestone, president of Formula One Management Ltd which manages all the commercial aspects of F1 racing.

A grand prix circuit will be constructed in the city's northwestern suburb of Anting, which covers an area of 5.3 square kilometers and could host 200,000 spectators. The racing track runs a full length of 7 kilometers, divided into 4.5-km F1 track and hi-speed ellipse track.

Two key figures to visit Shanghai

Invited by SGAS, president of FIA Mr. Max Mosley will arrive in Shanghai to attend the opening ceremony of construction on the Asia's largest motor-racing track. While Mr. Bernic Ecclestone will also come to finalize the agreement with Shanghai International Circuit to host the 2004-2010 F1 championships.

The city's bidding was also supported by the Hong Kong & Shanghai Banking Corporation, one of the world biggest financial institutions, who provided financial security for the bidding activity and even shipped a show car of F1 racing from London.

Shanghai International Circuit aims at building the grand prix circuit into one of the landmarks of the cosmopolitan city and bringing huge business opportunities to the city and surrounding areas through hosting the most prestigious event in world motor racing.

By PD Online Staff Li Heng

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