FROM the early moment when Michael Schumacher spun his car in a qualifying race, it was obvious the Chinese Grand Prix was going to present a fantastic spectacle. The 2004 Chinese Grand Prix, held in newly built Shanghai International Circuit, ended with Ferrari's Rubens Barrichello winning the title and BAR's Jenson Button and McLaren's Kimi Raikkonen seizing second and third place (see the story "Revved-up optimism" in the September 30 issue).

The new Formula One schedule in the coming season was also reported to have pencilled-in Shanghai as the last stop.

More than 150,000 spectators were fired up to see Barrichello's red car roar past the finishing line. According to the Shanghai International Circuit, the event attracted top executives from over 20 per cent of the World Fortune 500 companies who sponsored the event.

"There is a good chance that the inaugural Chinese Grand Prix will become the most noticed event in motor sport history," said Norbert Haug, vice-president of Mercedes-Benz Motorsport, in anticipation. "Starting from next year, we will be producing C and E Class sedans in China and at the first Grand Prix we want to present ourselves in a competitive way to Chinese spectators at the racetrack or watching TV," Haug said.

The race was the culmination of a decade of effort by the sport's organizers and the city of Shanghai, China's economic hub with a population of 16 million.

Ferrari, the owner of a seemingly invincible Formula One team, also expressed satisfaction about the new track. China's tolerant attitude toward tobacco advertisements gave the team a chance to breathe after the European Union's strict ban on tobacco advertisements choked-off the team's major partners and sponsors such as tobacco-giant Philip Morris.

As the Ferrari team put on their debut performance at the new track, a joint venture company was established by Ferrari and Hong Kong-based Wo Kee Hong (Holdings) Ltd and China Poly Group, which will serve as the only importer of Ferrari Maserati cars in China. This will help Ferrari to widen its sales channels throughout the country and improve its after-sales service. A total of 20 distributors will be built before 2005.

"Our goal is to make China the fourth-largest market in the world for Ferrarri," said Jean Todt.

Shanghai is looking for additional motor racing events to promote its image and its automobile industry. In addition to F1, the Australian V8 Supercar Championship will also make use of the Shanghai International Circuit annually for the next five years.

Furthermore, the Formula One International Motorboat Grand Prix staged its debut on the Huangpu River and the Motor Grand Prix is on its way to the city.