CHINA S Beidou global navigation system is expected to generate revenue of about 400 billion yuan (US$60 billion) by 2020 as the country attempts to compete with foreign GPS technology, a senior space technology expert said Saturday.
By 2015, our country s Beidou project will generate an industry worth between 150 to 200 billion yuan. In 2020, the figure is expected to reach 400 billion, Liu Jingnan, executive president of the China Satellite Navigation Conference, announced to the media.
According to previous reports, in the first stage of the 2011-2015 period, 12 to 14 navigation satellites will be launched to provide navigation, timing and short message services in the Asia and Pacific region. By 2020, a global navigation system comprised of more than 30 satellites will be in place.
So far, China had launched seven satellites for the Beidou positioning network.
Earlier this month, Qi Faren, the former chief designer for Shenzhou spaceships, said that the Beidou system, which is a Chinese-made GPS system, can be used wherever the U.S. GPS operates. The system can also play a key role in forecasting earthquakes, defining borders more precisely, and guiding lost drivers, Qi said.(Xinhua)
