The China Open will see an instant improvement after the upgrade, with the ranking points rising from 175 to 500.
Prize money will rise to $20.7 million, an increase of 400 percent since last year. The event will also be moved from September 10 to October 3 so it doesn't run up against the US Open.
Drewett said the changes will benefit fans and the sport in a long run.
"The changes we are undertaking represent the biggest shake-up of the ATP Tour since its inception, but reflect a true appetite for the sport in emerging key markets," he said. "Our players, fans, tournaments and sponsors deserve a world class Tour and that is what we will be giving them in 2009."
The other nine cities granted 500 Series tournaments are: Rotterdam, Dubai, Acapulco, Memphis, Barcelona, Washington DC, Tokyo, Basel and Valencia.
Hamburg is in litigation over its Masters Series status and has been reserved to host an 11th tournament in the 500 Series.
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