Shanghai extends F1 racing deal

Shanghai has signed a deal to host Formula One’s Chinese Grand Prix for another seven years.

The Shanghai International Circuit will remain on the F1 calendar through 2017.

The

Shanghai Daily reported that the city’s Vice-Mayor, Zhao Wen, said that the price of hosting the event was reduced in the new deal.

Attendance at the Chinese Grand Prix has been falling in recent years, but rose last year in part because of the return of Michael Schumacher after a three-year retirement.