Shanghai will become the permanent home of the HSBC Champions tournament and the event will be included in the PGA Tour's FedExCup schedule, sources said on Monday.

The tournament, which was first held in 2005, was hosted by Shanghai's Sheshan International Golf Club for seven years. This year, the event moved to Guangdong province and the players teed off at the Olazabal Course at the Mission Hills Golf Club last week.

According to a joint announcement by the International Federation of PGA Tours, HSBC, the China Golf Association and the Shanghai Administration of Sport, the HSBC Champions will return to Shanghai next year and stay in the city permanently.