The ongoing investigation into corruption involving Yu Zhifei, general manager of the Shanghai International Circuit (SIC), will have no impact on the future of the Chinese Grand Prix.

Speaking at a press conference Circuit chairman Mao Xiaohan declared that the SIC is not involved and that Shsanghai remains committed to the Grand Prix and international motorsport.

"The SIC, as a corporation, is not involved in the investigation at all," said Mao, according to the Shanghai Daily. "Some people acted completely on their own."

"More than one-sixth of the 2007 calendar is filled with motorsport events at the venue," he revealed. "Majors like the MotoGP and Formula One Chinese Grand Prix will all go ahead as planned."

Zhifei is "assisting" a police investigation into corruption, namely the alleged misuse of the city's multi-billion dollar pension fund. It is understood that a number of leading businessmen and officials are implicated. The investigation centres on the alleged misuse of "at least" one-third of a $1.2bn pension fund in order to make investments in real estate and various other deals, in addition to illegal loans.

Previously, the country's most senior Communist Party official in Shanghai, Chen Liangyu, was sacked after being accused of seeking benefits for relatives and various companies.

This year's Grand Prix takes place on Oct. 7, while Moto GP visits in May, just weeks after the A1 GP event.