The 2017 Chinese GP, which took place from April 7-9 and was won by Mercedes’ Lewis Hamilton, was the last race under the previous contract, with the new deal set to run from 2018 to 2020.
The change - a reversal of the two events' schedules in the provisional calendar released in June - is subject to the approval of the International Automobile Federation’s (FIA) World Motor Sport Council.
Formula One agreed the deal with Shanghai Juss Sports Development, Shanghai International Circuit Management and Development, and the Shanghai Municipal Government.
Chase Carey, chairman and chief executive of Formula One, said: “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. That’s why this renewed agreement is so important as part of our development strategy, especially in this part of the world.
“We and our partners in this venture want to make this Formula One Chinese Grand Prix even more spectacular, while bringing Chinese fans ever closer to the sport. Finally, we wish to thank the Shanghai Municipal Government for the support it has given and continues to give to the grand prix, which has been a crucial element of its success”
Jiang Lan, chairman of Shanghai Juss Sports Development, said: “Since its Shanghai debut in 2004, the Formula One 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. It is the most highly anticipated annual event in the city of Shanghai.
“Shanghai Juss Sports will continue to apply all efforts and resources to promote and grow the Formula One popularity in the future. The group is pleased to renew the Formula One host and promoter commitment, as it provides us an opportunity to stage the world’s ‘top In class’ international sports events and showcase the city of Shanghai as a truly global city.”
The agreement was announced today (Friday) in Kuala Lumpur as Malaysia commences the staging of its final F1 race. Earlier this month, organisers of the Singapore Grand Prix signed a four-year extension to their hosting rights deal with Formula One.
The agreement covers the 2018 to 2021 editions of the race. The deal was signed between F1, Singapore GP Pte Ltd and the Singapore Tourism Board.