THE Australian Open has underlined its standing as the most innovative and adventurous of the four grand slams by forging a multi-faced “friendship” agreement with China.

In a partnership to be simultaneously announced on Tuesday in Melbourne and China, the Australian Open and the Shanghai Rolex Masters will share resources and engage in joint promotional activity in a major social, cultural, sporting and commercial coup.

As the southern hemisphere’s only tennis major, the Australian Open has long been known as the “grand slam of the Asia Pacific.”

By linking with the region’s only ATP Masters 1000 event - which this week features all of the world’s top 10 men - the Open is aiming to tap into the phenomenal Chinese tennis market.

Officials will reveal significant details around the 2016 Australian Open (January 18-31), including likely player commitment, prizemoney and facilities.

Once regarded as a lowly poor cousin to Wimbledon, the French and US Opens, the Australian Open almost perished 30 or so years ago.

The move to Melbourne Park in 1988, visionary administrative strategy including the push for rankings points parity, equal prizemoney and unparalleled facilities has seen the Open thrive.

But Tennis Australia’s partnership with China will raise more eyebrows among the older tennis establishment.

The success of Li Na and the growing profile of the Shanghai Masters - an event effectively created by Australia’s former ATP boss Brad Drewett - has seen a steadily rising presence of Chinese spectators and media at Melbourne Park.

It is expected the two tournaments will share staff, resources and promotional platforms to build tourism around about events.

The tournaments already share major sponsors in ANZ and Rolex.

The Australian Open trophy tour has recently included visits to Shanghai.

The Open recently announced exclusive deals with Japanese manufacturer Yonex for tournament stringing and broadcaster Eurosport on a wider and more lucrative deal.

Last January’s Open outlaid a record $36.3 million. While the falling Australian dollar will have an impact on next year’s prize pool, a prizemoney increase remains likely for 2016.