Shanghai Grand Prix to continue until 2020

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Formula One (F1) said on Friday that Shanghai will continue to host the Chinese Grand Prix for at least three more years.

The Shanghai Grand Prix, which began in September 2004, will swap places in the race calendar with the Bahrain Grand Prix, and switch from April 8 to April 15 in order to avoid clashing with China's Qingming national holiday. Also known as Tomb Sweeping Festival, the holiday is a three-day period in which families pay respects to their ancestors.

Race course of the F1 Chinese Grand Prix in Shanghai. /Photo via AFP

"We are very pleased to have reached an agreement which will see the Formula 1 Chinese Grand Prix continue as a fixture of the Formula 1 World Championship for at least a further three years," F1 Chairman and CEO Chase Carey said in a statement.

"This great country has already demonstrated an overwhelming show of interest in our sport and we firmly believe there is still a great deal of unexplored potential here," the statement reads.

"That's why this renewed agreement is so important as part of our development strategy, especially in this part of the world."

F1 chairman Chase Carey arrives before the race in Italy. /Reuters Photo‍

This year’s race, won by world championship leader Lewis Hamilton for a record-extending fifth time, was set to be the last under the previous contract.

Jiang Lan, chairman of Shanghai Juss Sports Development, the company that organizes the race, said the Chinese Grand Prix had become "one of the most prestigious and recognized events" on the Formula One calendar.

"Since its Shanghai debut in 2004, the Formula 1 Chinese F1 Grand Prix has become a motorsport showpiece for China but also a fixture for all of Asia Pacific’s and global motorsports fans,” added Jiang.

Friday’s announcement comes as Malaysia, which pioneered Formula One’s push into Asia, is set to host its last grand prix in Sepang, while Singapore agreed a four-year extension earlier this month, keeping it on the calendar until 2021.

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Source(s): Reuters