Hey, space enthusiasts! 🌌 Guess what's rocketing in China? 🚀 China's satellite navigation and positioning services industry just hit a whopping 536.2 billion yuan ($74.2 billion)! That's a stellar 7.09% boost from last year, according to a white paper released on Saturday.
The GNSS and LBS Association of China shared that the value created by satellite navigation applications and services reached 375.1 billion yuan. Talk about shooting for the stars! ✨
China's own Global Navigation Satellite System, the BeiDou Navigation Satellite System (BDS), is shining bright. It's been growing steadily and is fueling the development of industry and supply chains. The association notes that BDS is really guiding the way! 🛰️
And get this—by the end of 2023, there were nearly 20,000 enterprises and institutions in China related to satellite navigation and location services. That's a whole galaxy of innovators! 💫
Reference(s):
China's navigation satellite services industry hits 536 billion yuan
cgtn.com
