The Evergrande China Championship will run between 1 – 5 November in the City of Guangzhou and will carry a first prize of £200,000 – making it financially the largest competition outside Europe on the snooker tour.

This year the tournament will be invitational only, like the Masters in London, with a field of 16, ten of which will come from the world ranking list as it is now.

Will prize money of £650,000 and the winner not only getting a large cheque but an invite to that month’s equally prized invitational event – Champion of Champions – there really will be a lot to play for in China.

World Snooker Chairman Barry Hearn said: “We are thrilled to be working with the promoter Evergrande and the CBSA on this brand new event. Our global calendar gets busier every season and this is a major addition. For the invited players this time it’s an incredible opportunity to play a big tournament in a new city with the chance to earn a huge top prize – the biggest we’ve ever had in Asia. And from next year it’s a full ranking event open to all tour players. Snooker in China goes from strength to strength, we now have five major tournaments there this season and we’re thrilled to be going to Guangzhou for the first time. Alongside our partners in China we’re creating a very bright future for our sport.”

The good news for the rest of the field is, from the following season it will become a world ranking event for the 128 players with a prize pot of £700,000 and the winner bagging £150,000 and the prestigious title.