Workers yesterday completed laying the foundation for the Shanghai International Circuit, ensuring that the city's racetrack will open in time to host China's first Formula One Grand Prix in 2004.

　　The 5.451-kilometer circuit is expected to get ready by the year's end, according to officials of the city government-backed Shanghai International Circuit Co Ltd, which is supervising the construction and will take charge of managing the track.

　　The company signed an agreement last year with the Formula One Management Ltd to host F1 championship-series racing every October from 2004 to 2010.

　　The US million racing facility - the largest of its kind in Asia - is being built in the northwestern suburb of Anting Town and will cover 2.5 square kilometers and host 200,000 spectators.

　　The track will be shaped like the Chinese character "shang," the first syllable in the city's name.