The sport said in a statement on Sunday that it would continue to work with its regional partner and local authorities "to study the viability of potential alternative dates should the situation improve."
The race had been scheduled for March 21 in the coastal resort in Hainan province.
The outbreak of the flu-like virus has killed more than 300 people and infected more than 14,000 in China after it first emerged in Wuhan in Hubei province late last year.