Wei Di, the director of the Automobile and Motorcycling Administrative Center, part of the country’s General Administration of Sport, says that a Chinese group is bidding to acquire a Formula 1 team and that “in the next one to two years, China will have its own F1 team”.
He did not say who was behind the idea. The organisation he heads is the state-run sports organization which serves as the permanent administrative body of the Federation of Automobile Sports (FASC), the country’s FIA-linked sporting federation. It was established in 2002 in order to organize, direct and promote automobile and motorcycle sports in China.
These reports were followed by an announcement today from the State Council, China’s cabinet, that the country intends to grow its sporting sector into a $813 billion industry (yes, you did read that right) by 2025 to boost employment and domestic consumption. A policy document issued by the Council says that private investment will be encouraged, new sports facilities will be built and the government will support the sector. This is part of the current shift that is going on to create what the Chinese are calling “a new economy”, moving away from heavy industry.
joeblogsf1 
$813 billion – I’m sure even Mr E feels faint… 🙂
If so, then I’m equally sure he will have recovered and be planning how to get his hands on a chunk of it.
🙂 Excellent response.
$813 billion… Chuffin eck! I’m just getting over the $24 billion debt of Caesar’s, and then you go and up your numbers again! To bring myself back to earth, I’m off to read your piece on Caterham, who can’t even afford their own suspension rods!
That’s because they are in a state of “suspended animation”, financially speaking… 😉
That is one of the advantages of a command economy. If China wants, she will get. I think that this (F1) is mainly a national flag waving exercise but it will be fascinating to see where they decide to build the cars. Should imagine they will buy an established team based here and then move it to China after a few years when they have learnt all the secrets !
Good luck to them – it has to be good for F1
F1 cars used to be built by 15 people in Ken Tyrrell’s wood shed.
Good grief.
Having worked at Tyrrell, I often muse on this fact. Anyone interested in starting a campaign to place a blue plaque on Ken’s shed? See also f1shed.com, although I’m not sure this effort is still active.
Peter, yes, good days… when F1 staff built machines, not composite computers
I thought you were joking – there is a f1shed.com, I didn’t know! Will look into it….. I used to live nearby. Ken lived in my village (West Clandon) – Eric Clapton overturned his Ferrari near his house one day, came knocking at a friend’s house for help. Those were the days!
Apparently, the overturned Clapton Dino is currently undergoing a complete restoration at the moment…
+1 Gary, and apart from the fatalities, I’d rather watch it 1970’s style!
I believe that a plywood mock up for Tyrrell 001 was made in Derek Gardner’s garage while the team was preparing its March 701s at Ken’s yard. I’m not convinced by the story that Tyrrell 001 was made in the metal at Gardner’s house — those Tyrrells were very well made — but I’m happy to read serious reports about who manufactured the bits.
Impressive numbers. Joe, is there maybe a link between this Chinese effort and the upcoming test of Fong with Sauber?
Buy CVC, petty cash.
^^^wins!
There is historically an intense rivalry between Beijing and Shanghai. I know first-hand of an initiative a few years ago for a Chinese national F1 team based in the Beijing area, motivated partly by the desire to upstage Shanghai’s Grand Prix. This had government links, but the plan was to rely primarily on private funding (of course this can be a hazy distinction in China). You might want to look into the Chinese capital as the locus of interest and activity this time around as well…
Caterham?
China has been trying to buy their way to a credible soccer league for years, throwing money at a succession of aging stars who then pull out when they see it is going nowhere.
Speaking of aging stars, surely there must be an Alonso silly season rumour to be spawned here somewhere.
Tony should give them a call, he’s having a spot of bother with one or two of his team…….
Yes, now that the Chinese construction industry and housing market is bankrupt with thousands of units, buildings, and cities left incomplete, let’s move on to something different to screw up.
You’re not wrong at all by your comments. It’s like how did Russia spend 51 billion dollars for the winter Olympics. Truly mind boggling but politicians cover up their tracks too well and we can do nothing about it.
With China’s recent history of ‘duplicating’ Western products maybe they’ll just build a Mercedes Hybrid O5 and be best of the rest after Mercedes.
Don’t kid yourself… Japan perfects stuff… the Chinese are inventors… of course, they will swipe ideas, everybody does… but it doesn’t stop there…
Yes, this occidental notion that Asians merely copy is a relic from the 20th-century that really has no place in today’s world.
And that is not even taking into account that Western societies have “borrowed” from the Orient since the days of Marco Polo. Gun powder, anyone?
After repeatedly trying and failing to quit tobacco… for decades… using each and every one of the West’s best methods… about 3 years ago, I quit with virtually zero effort or stress… using e-cigs… invented by a Dr in China who saw tobacco use there rising with economic improvement… he thought the only sound solution was to provide a much healthier alternative… so he did…
This is actually quite a sensible proposition. It’s basically a case of re-investment into the state, but on a huge scale, whilst at the same time satisfying an increasing need to stimulate the citizens who are increasingly employed in sectors outside of agriculture, as well as providing employment.
I am surprised at motorsport being seen as any kind of core component of the second announcement though. I would have thought that they would have concentrated on high venue, high repeating options, such as football, hockey, etc., followed by intermediate repeating venues.. athletics, etc.
Even in Europe, the home of motorsport, tracks suffer due to lack of use/promotion and due to the generally sprawling nature of motorsport venues do not offer any serious integration/synergies with local urban developments.
I would have thought it much better to focus on stadia capable of holding tens of thousands of citizens which can be integrated into urban/industrial areas and their associated transport networks, and let motorsport venues/investment develop with an expanding motor industry.
It’s not an either/or choice… they can do both…
They already have their China Racing.. I just wonder whether they would go for Sauber, Lotus, Force India or Marussia (for a while I assume that Caterham may be going to Romanians)
This is a clear signal that a budget cap is necessary more than ever.
Uh-oh.
(No, not because it’s the Chinese; because it’s a government. Subsidized national teams are the last thing we need.)
Living in India, one can only look with envy at how our neighbouring country (officially a developing nation like ours) is making leaps and bounds in motorsports while we have no plan, no aim, no nothing, and an F1 track that is gathering dust…
All welcome ‘Golden Dragon Formula One Team’ sponsored by the best brands from China.
No more OEM for Apple and other western goods, Formula One will put ‘Brand China’ on the front page, for a lot less cost than traditional marketing methods.
Joe
If you were a betting man do you think the Chinese will purchase an existing team, if so, who’d be in their sights, or start from scratch?
I am not gambling man
Did you ever bet on anything… ever? If so, what? And did you win or lose?
Gamblers always lose