China launched China Formula Grand Prix (CFGP) in Beijing on Tuesday.

It is the first time for China to hold an automobile Formula race by the Federation of Automobile Sports of China (FASC)

Yan Jianchang, vice-president of FASC, said that the first version of CFGP would have four stages including Beijing, Shanghai, Zhaoqing and Chengdu.

"The CFGP will be a top level race in China. The FASC aims to engage and influence young people in sport and push forward the domestic racing level." said Yan.

"We have begun the work to pick up racers for the tournament from our four training centers in Beijing, Zhuhai and Chengdu. I believe the CFGP will become a cradle of China's talented racers."

The tournament will begin on July 24 and end on November 28.