BeiDou to reach $58.5b

Source:Global Times Published: 2018/9/6 22:38:41

The industry associated with China's BeiDou navigation system has growing at more than 20 percent per year since 2009, and it is expected to reach 400 billion yuan ($58.5 billion) by 2020, the Xinhua News Agency reported Thursday, citing BeiDou spokesperson Ran Chengqi.

China will launch the 37th and 38th BeiDou satellites within two weeks, BeiDou announced during a forum held in Mianyang, Southwest China's Sichuan Province on Wednesday.

BeiDou is now widely used in a variety of industries in China, and the value chain associated with BeiDou navigation amounted to 250 billion yuan in 2017, said the report.

Posted in: COMPANIES

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