The FIA said that “any action required” would be taken to protect the safety of the community and public against the threat of the virus, in a statement from the motor sport governing body.
“Following the coronavirus epidemic that broke out in China at the beginning of the year, the FIA is closely monitoring the evolving situation with relevant authorities and its Member Clubs, under the direction of FIA Medical Commission President, Professor Gérard Saillant,” it said.
“The FIA will evaluate the calendar of its forthcoming races and, if necessary, take any action required to help protect the global motor sport community and the wider public.”
The races are still scheduled to take place, but are likely to be impossible to hold if China becomes increasingly isolated from intertnational travel.
British Airways has already announced it has suspended flights to China, and the UK Foreign Office has advised against travel to the country unless essential.
Wuhan, the city the virus originated from, has been placed into lockdown with public transport to and from the city suspended.
Formula E is supposed to visit the island of Sanya for the sixth round of the 2019/20 season in March while Shanghai is set to host round four of the 2020 Formula 1 World Championship the following month.
Sanya is 1,700km South of ‘ground zero’ while the Shanghai International Circuit lays 800km East, though there have already been confirmed cases of the coronavirus in Shanghai.