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Annual output of China’s satellite industry tops 200 billion yuan

Updated: May 27,2016 9:33 AM     Xinhua

BEIJING — The annual output value of the Chinese satellite industry has exceeded 200 billion yuan ($30 billion), according to China’s top aerospace administration on May 26.

Satellite technology has been widely used in various domains in China, covering agriculture and forestry, water conservancy, housing construction, environmental protection and disaster relief, among others, said Tian Yulong, chief engineer of State Administration of Science, Technology and Industry for National Defense.

China has been making steady progress on commercial remote sensing satellites and will complete the building of a national aerospace infrastructure system for civil use in the next five years, Tian said.

China will launch nearly 100 new satellites for remote sensing, communication, broadcasting and navigation from 2016 to 2020, Tian said.

The aerospace administration is actively attracting private capital to invest in fields such as aerospace, satellite applications and data services, he said.

Tian also said China has signed more than 100 cooperative agreements with more than 30 countries on aerospace technology, and exported production overseas.