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China's Satellite Navigation Sector Annual Output to Reach 225 bln Yuan in 2015
SOURCE: China Space News     UPDATED: 2012-02-09
BEIJING, Feb. 6 (China Space News) — The annual output value of China's satellite navigation industry is estimated to reach more than 225 billion yuan (35.64 billion U.S. dollars) in 2015, according to a latest research report on the country's geographic information sector.

Compiled by a think-tank under the National Administration of Surveying, Mapping and Geoinformation, the report predicted the industry would become the world's third new IT economic growth point, after mobile communication and Internet.

More than 5,000 Chinese firms and organizations were now involved in the application and services of satellite navigation and the industry generated more than 50 billion yuan of output value in 2010, according to the report, published by the Social Sciences Academic Press.

China Aerospace Science and Technology Corporation has launched 10 satellites for the Beidou Navigation Satellite System.

The homegrown Beidou system began providing initial positioning, navigation and timing operational services to China and its surrounding areas from Dec. 27 last year.

Six more satellites will be launched in 2012 to further expand its service area to cover most parts of the Asia-Pacific region, according to the management office of the China Satellite Navigation System.