In what is a major boost for the motorsport in its desire to infiltrate the emerging Asian marketplace, Champ Car chiefs signed an agreement with the Beijing State Asset Management company (BSAM) to act as promoter of the race.
BSAM is a state-owned company.
It follows a deal last month where Champ Car announced the first step towards securing a race in Beijing by signing an agreement with the Beijing Auto and Motor Sports Association - the only Beijing government-designated agency allowed to approve races for Beijing.
The race will take place at the Goldenport Motor Park, the first national privately-owned race circuit in China for the next three years.
BSAM chairman Li Aiqing said: “We are working with the Beijing Sports Bureau to build Beijing into the sports capital of China and to be recognised worldwide as a leader in hosting international sports events.
“We believe the Champ Car World Series will provide Beijing and China with a platform for tremendous worldwide exposure leading up to the 2008 Olympics.
“The race will also allow BSAM to leverage our investments in the Olympic facilities by integrating the race into the Olympic Park for the years after the Games.”
Champ Car has made little secret of its desire to establish new footholds in the Pacific Rim markets and this October stages its first race in Ansan, Korea, in additional to its regular event at Surfers Paradise in Australia.
Champ Car bosses have signed a deal confirming the series will race in China next year.
