The Asian Geely Formula (AGF) International Open has not yet produced a world-class Formula One driver for China but officials insist that greater investment in the sport will eventually put one in the pipeline.
"After three year's development, the AGF has already set in motion a systematic training program for China's formula racing enthusiasts and drivers," said Liu Jianquan, secretary of the race's organizing committee.
"We will develop younger drivers from kart races, and then in touring cars.
"We will then introduce the best of them to domestic events like the AGF. Our ultimate goal is to produce a Chinese driver at major international events like F1 and GP2."
The AGF International Open is an annual four-stage race and the closest domestic equivalent to F1 racing. It embarks on its 2009 season in May with the opening leg to be played out in Beijing, followed by stages in Chengdu and Shanghai before the finale in Zhuhai in November.
This year may even see the circuit extended to six stages if organizers succeed in their plans to add another leg in the gambling enclave of Macao and one more overseas, possibly in Malaysia.
The AGF made its debut at the Malaysia's world-class Sepang Circuit last year - the first time for a Chinese formula racing event to be held abroad - and organizers do not want to lose this momentum.
"The Macao Grand Prix is a world-famous motor-racing event held annually in November in the streets of Macau," said Liu. "We hope that the AGF will have a chance to be held there and become part of the Grand Prix if possible. We are still working on this."
The Macau GP is known for being the only street circuit racing event in which both car and motorcycle races are held. Every year it attracts over 300 riders. Other highlights of the weekend include the F3 Grand Prix, featuring national champions and drivers from around the world.
Liu said he has been working to arrange co-operative programs with F1 and GP2 authorities to develop the potential of China's racers.
"China does not have many internationally competitive formula racers and this is the main reason I initiated the AGF four years ago," he said.
"Now we have assembled the best drivers here between the ages of 14 to 20 but they still lag behind the world's best. We hope to see them in major international races after several years."
Fortunately, new sponsors have lined up to provide funding for Liu's expansionist philosophy.
"There are about ten new sponsors joining the AGF family this year," he said.
"Their support gives us more confidence that the 2009 season will be a great success. We are working to develop the event into a continental one and see AGF competitions throughout the Asia-Pacific region.
"Our ultimate goal is to develop AGF as the No 1 formula racing event in Asia."
(China Daily March 25, 2009)