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August 22nd, 2012
China’s Satellite-Navigation Industry Soars

China’s satellite-navigation industry and location-based services are set to play an increasingly important economic role in the next decade as the nation invests further in the emerging industries. The Beidou satellite system, which is scheduled to come into commercial use by the end of the year, will help boost demand, industry insiders said. The turnovers of China’s satellite navigation industry reached 70 billion yuan ($11 billion) last year, and the figure is expected to hit 400 billion yuan by 2020, said Miao Qianjun, secretary-general of the Global Navigation Satellite System and Location-based Service Association of China. Read More