Formula 1 has always been very popular in China. For example many of my Chinese female friends have their favorite F1 drivers, and they go to Shanghai to watch the race. To attract more young people the tickets for local students to go watch the Chinese Grand Prix are very reasonably priced (~$50). China is also constructing race tracks around many major cities (although population is ridiculous), purchasing race track overseas and send people to learn race track/racing school management (see http://www.utahmotorsportscampus.com/ in the "Community Partnership" section), despite the fact that performance-oriented road cars are constantly getting hit by more and more strict emission and fuel consumption rules (the GT86/BRZ is officially no longer imported, and the new MX5 Miata convertible is not officially imported, because their fuel consumption exceeds the new limit, which is frankly ridiculous). Having a new F1 team backed up by Chinese money will definitely make motorsports even more popular among Chinese people.
http://www.roadandtrack.com/car-culture/a18000/china-the-next-big-stage-for-auto-racing/
http://www.roadandtrack.com/car-culture/a18000/china-the-next-big-stage-for-auto-racing/
Don't be ridiculous. You are just way uninformed of the actual news, and way off-topic.China? WTF? After the way they treated the Koreans, I'd never get in bed with F1 if I were in Asia.