GUANGZHOU, Jan. 8 (Xinhua) -- The Badminton World Federation (BWF) launched its remodelled World Tour and announced China's Guangzhou as the home to the BWF World Tour Finals for the 2018-2021 tournament cycle.

The BWF World Tour features five levels. The top level is the BWF World Tour Finals with a shared prize of 1.5 million US dollars. Others include BWF World Tour Super 1000, BWF World Tour Super 750, BWF World Tour Super 500 and BWF World Tour Super 300.

"China is a crucial badminton market and we are pleased to entrust one of our flagship tournaments - indeed the pinnacle of the tour season - to Guangzhou for the next four years. We appreciate the cooperation which we have received in launching this partnership and we look forward to working closely with the Chinese Badminton Association and the Guangzhou Sports Bureau to deliver an event of the highest calibre," BWF President Poul-Erik H?yer said at a press conference held in Guangzhou.

Meanwhile, BWF Secretary General Thomas Lund said the potential to increase badminton's global presence, broadcast coverage and the popularity of elite players - under one umbrella brand - was a major catalyst in the decision to merge and rebrand BWF tournaments.

"Our objective was to evolve all our events into a unified, distinctive brand that will strengthen brand awareness and value. This will make it possible to improve the quality of the events while making the tour more financially beneficial for hosts and players alike," he explained.