The F1 Chinese GP and F1 Esports Series China Championship signed deals with their partners in China at the 4th China International Import Expo (CIIE) in Shanghai on Saturday.

F1 Chinese GP will continue to be based in Shanghai until 2025 and establish roots in China. The F1 Esports Series China Championship, the world's first regional F1 esports event, embraces the young generation in the country with 'Sports + Esports.'

"We have arranged the signing ceremony at the scene of CIIE for the first time, which is a positive response to Shanghai's implementation of a high-level opening-up to the whole world in this new period," Guo Jianfei, chairman of Shanghai Jiushi (Group) Co., Ltd., said in his welcome speech at the signing ceremony, 

"It shows that we remain calm in the face of adversity, actively embrace the strong confidence of development in the future and take practical actions to repay the market and the ardent expectations of fans."  

Stefano Domenicali, CEO and president of Formula One World Championship Co., Ltd., who attended the ceremony via video, vowed that the F1 Chinese GP will be back as soon as COVID-19 conditions allow. 

"This is great news for all of our fans in China and we are delighted to announce this agreement that will see us racing in Shanghai until 2025..," he said. "While we are all disappointed we could not include China on the 2022 calendar due to ongoing pandemic conditions, China will be restored to the calendar as soon as conditions allow and we look forward to being back with the fans as soon as we can."

The F1 Chinese GP was launched in Shanghai in 2004 and the event has been successfully held for 16 years, attracting nearly 2.9 million spectators.

In 2019, it marked F1's 1,000th GP, helping Shanghai catch global attention and fully reflecting the importance of the Chinese market.