The Formula One Grand Prix has given the city a real thrill, leaving F1 stories scattered throughout TV programmes and newspapers. The city's whole population seems to have sparkled with pride over the successful hosting of the race. There's still no sign of the fever dying down, despite Ferrari's Rubens Barrichello being declared the winner on Sunday.

Perhaps there is no need to end the excitement and fun everyone has had at this grand gathering. Commercial giants have taken it as a golden opportunity to break into the market. Fashion stores and expensive eateries have opened for business in Shanghai during the period, with Formula One as a key attraction.

Formula One Administration Ltd (FOA) and its Chinese partner have also seen the business success, with 10 million yuan (US$1.20 million) worth of products sold or ordered so far and hundreds of additional outlets planned to open around the country. Collectors have also enjoyed a wonderful time buying small model cars based on those on show at the Shanghai International Circuit. Racing video games have also provided an exciting way to share the experience of the high speed motor sport. The appearance of stars, such as diving prince Tian Liang and rumoured girlfriend Guo Jingjing added yet another level to the excitement.

No wonder the media have praised the Grand Prix so highly.

Yet the attraction of the event for ordinary people might be less than it seems. Most of the fine goods on sale are targeted at the limited number of people who can afford to book hotel suites for US$500 a night. The exhibition racing cars and pretty models are no more than a diversion for visitors, since the high technology embodied in the vehicles remains a top secret - even from local industries. Even the supposedly "hot" tickets (ranging in price from 330-3,700 yuan (US$39-446)), which were said to be cheaper than those for other Grand Prix events were still exorbitantly priced by local standards. Although the tickets sold out, it is worth noting that nearly 20 per cent were ordered by overseas visitors and of the remainder, 60 per cent were purchased by companies and institutions as gifts for employees or clients. Local individual buyers were scarce and must have belonged to a small privileged group.

How Formula One will help promote the development of the domestic auto industry also remains uncertain.

Chinese sponsors and the organizing committee even gave permission for cigarette advertisements to appear on the cars, although such commercials are banned by Chinese law. In negotiations with the FOA, concessions were also made in respect to the designation of Formula One products. According to some recent reports, most of the locally designed products, full of Chinese character, were turned down by the FOA. It could be even more embarrassing to mention that the people in the core decision-making group for the event were mostly foreign. Chinese mostly accounted for lower level staff, such as the guards and policemen working in the stadium. The designer of the track, the technical adviser for the race, even the cameramen were all foreigners. It seems that we just moved the Formula One's existing structure to our venue without increased participation in it.

Locals have been expecting some young Chinese F1 hopefuls, such as Tung Hopin or Cheng Congfu, to become their own heroes in this international elite race. Due to their European-based training and racing experience in F3, the realization of this dream might not be far away. But when will our people and industries gain an overall participation in Formula One, instead of a mere aspiration for it? Since the municipal government rights to host the Grand Prix last for seven years, the preparation for F1 may have only just begun.

starcomment@yahoo.com