When discussing the coming F1 Chinese Grand Prix, to be held in Shanghai in 2004, and its prospects, Yu Zhifei, vice president of the Shanghai International Circuit Corp appeared very talkative and confident.
Although the Chinese Government's ban on tobacco company sponsors of F1 has brought problems for the money-consuming sport, Yu still believes in the success of Chinese Grand Prix and the potential benefits it will bring.
"Shanghai will become the centre of the car racing storm in China. A trend of car racing sports featuring new cars, new fashion, new culture and new heroism will explode in China," Yu told the Shanghai Star.
"There will be more than 10,000 work positions created by the game in 2004 and related businesses will also boom," added Yu.
Yu, once a major figure in the football market, is looking forward to the same success in F1 that he oversaw in football. He takes as his model Bernie Ecclestone, the F1 supremo who has made F1 into a global money machine. "I expect to make F1 into the biggest cash machine in China."
After establishing good co-operation with media giant CCTV and the Jordan F1 team, the Shanghai International Circuit is scheduled for completion next March and will be able to accommodate an audience of 200,000 spectators. "Designed by Germany-based Tilke, the future Shanghai circuit is regarded as the world's most challenging and most modern one," said Yu.
"Our goal is to establish the world's top circuit corporation with a world-class level both of circuit management and business exploration. The Shanghai International Circuit will not only be the circuit provider but will also drive China's whole car racing market forward."
In 2004, the circuit will host the first China Circuit Championship.
Although the car racing sport has not gained the same popularity as football, Yu is planning to make the game well-known by a series of car sports and promotion activities.
"We will foster a market based on loyal automobile racing fans and the fans' culture, with features delivered through media such as TV, newspapers and the Net," Yu said. Li Jian
(Shanghai Star January 7, 2004)
