The inaugural season-ending event will see the world's highest ranked players compete across singles and doubles disciplines.

Officials have now launched the competition at the Guangzhou City News Centre ahead of the event which runs from December 12 to 16 at the city's Tianhe Gymnasium.

As the final event for the restructured BWF World Tour, Guangzhou will be looking to host a showpiece which matches its $1.5 million (£1.2 million/€1.3 million) total prize pool.

The event is replacing the BWF's Super Series Finals which ran from 2008 until last year.

Owen Leed, the BWF's commercial and communications director, thanked the organisation's partners for their efforts in organising the event.

"The Pearl River Delta is a fitting location for the season's finale and on behalf of the BWF I would like to thank all parties involved for their hard work in bringing to life the HSBC BWF World Tour Finals," Leed said.

"We're extremely excited to welcome our sport's elite players to this great city in what will be five days of premier badminton action.

"May the 2018 edition be a stepping stone to greater things to come between the Chinese Badminton Association, the Guangzhou Municipal People's Government, our partner HSBC and the BWF." 

Guangzhou will host the Finals until 2021 with the Syed Modi International and the Scottish Open acting as the two final qualifying events.

The ranking lists will be revealed on November 29 and indicate the top eight qualifiers in each of the five categories - men's singles, women's singles, men's and women's doubles and mixed doubles.

Helen Wong, the chief executive of sponsor HSBC in Greater China, also looked ahead with excitement.

"We are very proud to see our global partnership with the Badminton World Federation helping to grow this popular sport across Asia and beyond," she said.

"HSBC has been there every step of the way as the World Tour has travelled across the globe over the last 10 months, deepening our relationships with athletes, fans, customers and employees.

"Building our business in the Pearl River Delta is a strategic priority for HSBC, so it's particularly exciting for us to be completing the World Tour series with the HSBC BWF World Tour Finals in Guangzhou.

"We hope that the local community will enjoy having world-class badminton in the city and will come along to see the action."