The deal - widely reported prior to its signing last week - will see races staged in Shanghai from 2004.
The track is currently under construction and is due for completion just prior to the start of the 2004 Formula One season.
Said Ecclestone: "I'm very pleased that we've decided to wait to come to Shanghai.
"I sincerely hope that Formula One coming to China will breed enthusiasm for motor sports."
The move is another key part in Ecclestone's jigsaw to take the sport to the widest possible global audience - and underlines China's position in the sporting world as a host of major events.
Find out more about the commercial opportunities within sport in China by attending a special half-day interactive seminar, presented by SportBusiness Seminars in association with Norton Rose, taking place in London on November 27.
Under the title, China: Opportunities in the Business of Sport, a number of key issues will be looked at during the seminar including the impact of the Olympics on the country and an examination of sports programming within China.
The full price for attendance to this seminar is £150 although SportBusiness International subscribers are entitled to a 20 percent discount. For further details call +44(0)207 934 9009 or email china@sportbusiness.com.
