The race is scheduled to be held in Shanghai on 19 April and a decision is set to be made in the next few days.

Formula 1 managing director Ross Brawn has previously said it will look to reschedule the race if it cannot be held on its original date.

The last time a race was postponed was 2011, when the Bahrain Grand Prix was affected by the Arab Spring uprisings.

On Tuesday, the FIA said it was "closely monitoring the evolving situation".

There have now been more than 40,000 cases of the new coronavirus worldwide, which has been declared a global health emergency.

The death toll in China stands at 1,016.

Earlier this month, sports authorities in Shanghai recommended the suspension of all sporting events in the city.

The Shanghai Sports General Association instructed sports bodies to suspend events until the threat from the virus is over.

They were told to "formulate a plan for epidemic prevention to avoid internal infections" and to "implement a daily hygiene management system and strengthen health education to urge employees to protect themselves".

The virus outbreak has already led to the cancellation of a number of sporting events in China, including the World Athletics Indoor Championships in Nanjing, scheduled for 13-15 March, and a race of the all-electric Formula E series in Sanya the following weekend.

Olympic organisers also say they are "seriously concerned" about the spread of the coronavirus and the impact it could have on the Tokyo Games in Japan this July and August.