China’s GPS rival secures US$1.78 billion as BeiDou system widens reach
BeiDou, China’s satellite navigation system, is continuing its global expansion with numerous investment deals signed at high-profile event
The deals were “conclusively signed” during the Third International Summit on BDS Applications, including 7.83 billion yuan of investment for the Chinese system’s adoption for industrial and consumer use, the state-backed Hunan Daily reported on Friday.
An early warning system under Indonesia’s disaster prevention agency was one signatory, though the value of the contract was not disclosed.
Event organisers published 10 major application scenarios for the 30-year-old BeiDou system, including those which could be employed overseas.
Xiang Libin, vice-chairman of the National Development and Reform Commission – China’s top economic planner – said at the event Beijing wants to “partner” with other countries in using its system for regional short message communication and international rescue work.
01:23
China launches last piece of BeiDou Navigation Satellite system into orbit
BeiDou agreements have been previously signed with South Africa and Egypt, the official was quoted by state outlet China Daily as saying.
Domestically, 1.4 billion pieces of equipment use the Chinese navigation system. The commission will push for BeiDou’s “deep integration” with technically advanced motor vehicles, as well as “smart” agriculture and aerial tourism, Xiang said at the summit.