From a press release issued by Dorna Sports:

MotoGP signs seven-year deal for Grand Prix of China in Shanghai

In Shanghai earlier today, the official signing ceremony for the Grand Prix of China took place between the television and commericial rights holders for the FIM MotoGP World Championship, Dorna Sports, and the Shanghai International Circuit (SIC). The deal will run from 2005 until 2011, and seals a collaboration between the two parties which will see the thrilling event of MotoGP spread its influence even further across the globe, as it enters the exciting market that is China.

The agreement also confirmed next season’s first visit of the MotoGP World Championship to China, which will take place at the SIC on May 1st 2005.

Present at today’s prestigious ceremony were the Vice-Mayor of Shanghai – Yang Xiao Du, the General Manager of SIC – Mao Xiao Han, the Chairman of the Chinese Motorsports Federation – Shi Tian Shu, and the CEO of Dorna Sports – Carmelo Ezpeleta.

Mr. Ezpeleta welcomed the landmark ceremony as further proof of MotoGP’s growth, “This joint venture between ourselves and the Shanghai International Circuit is crucial to the expansion of our sport, and shows just how far MotoGP has come in recent years, as it progresses into the most populated country on the planet. It is a great coincidence that the FIM MotoGP World Championship was founded in 1949, the same year as the People’s Republic of China, and we hope that together our future will offer many more opportunities to celebrate and many fantastic memories.”

Continuing, Mr. Ezpeleta also offered his thanks to the Chinese government, “I would like to extend my thanks to the Chinese authorities who have helped make this agreement possible. The Grand Prix of China promises not only to be an incredible event for the country, but also for everybody involved in the sport itself, as well as those who will watch it at the circuit and across the world on television. The SIC is an outstanding facility, with all the necessary amenities expected from a twenty-first century circuit, and with the capacity to welcome around 250,000 spectators, we are sure to see some incredible racing here over the next few years.”