Shanghai to host F1 race beginning in '04

October 18, 2002 BEIJING, The AP reported that Formula One will race in China for the first time in 2004.

The circuit has a seven-year deal beginning that year to hold a grand prix race at a new $244 million track in Shanghai, the sport's governing body said Friday.

"Formula One is the biggest annual global sporting event and it has been my ambition since becoming FIA president that Formula One should have a home in the world's largest nation," Max Mosley said. "That ambition will be realized in 2004 when the world of Formula One arrives in Shanghai."

Shanghai joins Bahrain as a second new stop on the F1 circuit in 2004, meaning that two or three European venues could be removed from the calendar.

The Shanghai course will accommodate about 200,000 fans and is to be completed by March 2004. An adjoining theme park is also planned.

This is not the first time Formula One has planned to race in China. A race scheduled for 1998 in Zhuhai was called off when the track failed to meet safety standards.

The new Shanghai track will also have to meet safety standards and be approved by FIA's world motor sport council