Race is on for China's 1st Formula One star

Dreyer said another aspect that has held the sport back in China is its association in the minds of some with very wealthy people, and corruption. Associations between reckless young, rich people, performance cars, and corruption have hindered the sport in getting crucial support from government, he added.

In addition, traditional Asian culture is rooted in avoiding doing dangerous things, said Sharizman.

"To have more drivers, the willingness of families to push their children is very important, but in Asia, for the last 20 to 25 years, most parents do not tend to allow kids to engage with relatively dangerous or adventurous activities, such as driving karts," Sharizman said.

However, Dreyer said, with wide exposure at all levels, this is changing.

"I have seen more grassroots efforts, with racing improving across the board, from go karts and above," he said. "That's a good sign and it bodes well for the future."

As for how young Chinese drivers should chase their F1 dreams, Renault's Australian star driver Daniel Ricciardo said the key is to be in Europe where there is a platform for the sport.

"I was in a similar position coming from Australia. It is very isolated to the world of F1 and I imagine China is the same," he said. "Really, it's about making that step, I think, to Europe. That was a big thing for me. Putting yourself in the spotlight, putting yourself against the best upcoming kids, a lot of them, and try to see how they go."