China is poised to host a Formula One Grand Prix, with a newly completed racetrack in the southern city of Zhuhai.

The Zhuhai racetrack has been named as one of two reserve venues for next year's World Championship and is likely to be used if either Belgium or Portugal lose their races, the South China Morning Post said.

"Close and useful conversations" were held between track managers and the motor-sport's world governing body, the Federation Internationale d' Automobile (FIA), Joe Lim Hun-beng, a director of Zhuhai International Circuit Management Ltd, which is responsible for running the track, told the paper.

"We have been told to be ready in case Portugal or Belgium are unable to hold their races," he said.

"We are ready to hold a Formula One race and the circuit is up to standard, All the facilities are ready, We are very optimistic about our chances."

The 4.32km (2.68-mile) circuit already has a pit area and race control tower and its 11,000 seater grandstand is nearing completion.

Belgian Grand Prix officials have until December 31 to prove their August race at Spa will not be affected by a European ban on tobacco advertising.

The main threat to Zhuhai's hopes comes from South Africa's Kyalami circuit, the second standby venue named by the FIA.

Japan is the only Asian nation currently hosting a Formula One Grand Prix although 70% of the sport's television audience is in Asia.

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