Ticket prices have been set for the inaugural Chinese Formula 1 Grand Prix, to be held next year in Shanghai.

And they are very reasonable. The cheapest will be sold at 400 yuan or about 50 US dollars, far cheaper than most European races. These tickets provide gate access for all three days of the competition.

VIP's tickets will be considerably more expensive, which will top 4,000 dollars.

Hospitality suites are a mainstay of the F1 paddock around the world, allowing wealthy sponsors and fans a chance to get close to the teams and cars.

Shanghai, China's largest city, is the latest destination on the Grand Prix calendar after winning a seven-year contract to host races starting next September.

The cost of holding the event, including the building of the circuit on the western outskirts of Shanghai, said to be the largest in Asia, will total about five billion yuan, or 600 million dollars.
 
(People's Daily December 20, 2003)