Shanghai, Oct 24 (IANS): China has been awarded the hosting rights for the expanded 24-team FIFA Club World Cup in 2021. The announcement was made following a FIFA Council meeting in Shanghai on Thursday.

The tournament will be played between June and July 2021 and the final list of venues will be decided by FIFA and the Chinese association.

The football governing body further said that the participation model to determine the clubs that qualify from each confederation will be finalised in a consultation process between FIFA and the six confederations.

The current Club World Cup features seven teams including the holders of the UEFA Champions League. Qatar will host the competition this year and in 2020.

FIFA has also decided to invest $1 billion in women's football over the course of the 2019-2022 cycle, as a result of an agreement on extra dedicated funding in the amount of $500 million.

"This amount will be taken from FIFA's reserves as an addition to the $500 million already approved by the FIFA Congress to be invested in women's football as per the budget of the current four-year cycle," FIFA said in a statement.

The next FIFA Council meet is scheduled for March 12-13, 2020, in Asuncion, Paraguay.