The season-ending WTA Finals will be hosted by Shenzhen, China for a decade, starting from 2019, the WTA announced on Thursday.
Meanwhile, a record prize money of 14 million USD for the top eight singles players and top 8 doubles teams, double the previous prize, was also announced.
"It gives me great pleasure to announce that the dynamic city of Shenzhen has been chosen to host the WTA Finals, the WTA's crown jewel season finale, for the next decade," said Steve Simon, WTA CEO and Chairman in an official statement.
The prestigious tournament, which features the top eight female players, has previously been held in Singapore, which took over from Istanbul.
Shenzhen will be the 10th different city - and the second in Asia - to host the WTA Finals.
There have been 21 different winners in the event's history with champions from 13 different nations including Serena Williams, Chris Evert, Martina Navratilova and Maria Sharapova.
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