Chinese Grand Prix
The Chinese Grand Prix is a Formula One World Championship race first held in 2004. . It is currently held at the Shanghai International Circuit. When completed in 2004, it was the most expensive Formula One circuit facility, costing $240 million. The track is 5.451 km (3.387 mi) long and features demanding corner combinations.
In 2002, Shanghai International Circuit signed a seven year contract to host the Formula One race until 2011. It was only in February 2011 that another deal was agreed upon. Reasons for the delay appear to have been over the fee paid to F1 to host the race. After racking up losses year after year, the organizers of the race refused to pay the required fee, reported to be amongst the highest paid to host an F1 race. F1 bosses reduced the fee and the new agreement to host an F1 race runs to 2017. British driver Lewis Hamilton won the most recent Chinese Grand Prix in 2011.