The PSA has announced prices for the tournament will range from ¥158 (£18/$23/€20) for first round matches to ¥2,980 (£340/$433/€379) for the finals.

It has also been confirmed that a record prize purse of $241,000 (£189,000/€211,000) - over a 20% increase on the 2017 edition’s prize money - split equally between male and female players will be up for grabs.

A host of the world's top players are set to participate at the event, sponsored by financial services company J.P. Morgan and which is due to run from September 5 to 9.

World number one and defending champion Nour El Sherbini of Egypt, world champion Raneem El Welily and England's Laura Massaro, who clinched the China Open title in 2016, headline the women's draw.

Germany’s world number five Simon Rösner tops the men’s draw alongside the likes of British Open champion Miguel Angel Rodriguez, while Frenchman Gregory Gaultier - the 2015 winner - has also entered the competition.

"J.P. Morgan is pleased to become the title sponsor of the exceptional event in China again this year,” said J.P. Morgan China chief executive Mark Leung.

"As China continues to open up its markets, we are bringing the full force of J.P. Morgan Chase to China to support our clients, further develop the local markets and contribute to the local community. 

"Supporting major sports events is one of our many ways of giving back to the local communities that are so critical to both J.P. Morgan and many of our clients globally.”

First round, second round and quarter-final matches will be split between the SECA Academy Jinqiao Center and The Peninsula Shanghai, before the latter venue holds all semi-finals and finals.