China's BeiDou industries to exceed 1 trillion yuan in 5 years

Industries based on the BeiDou Navigation Satellite System (BDS) are likely to see their scale top 1 trillion yuan (about 144.9 billion U.S. dollars) in five years, according to China's National Development and Reform Commission (NDRC).

Currently, the BeiDou Satellite Navigation System has entered a phase of rapid development featuring market operation, industrial application and international cooperation.

BeiDou's high-precision services are employed across various fields, including transportation, logistics, agricultural machinery, and deep-sea fishing. Additionally, its short message service offers a reliable backup for emergency response and disaster relief.

The NDRC stated that during the 15th Five-Year Plan period, China will continue to implement the project for large-scale application of BeiDou and strive to expand the Beidou industry's scale to exceed 1 trillion yuan within five years.

In the future, China will continue to foster the development of new BeiDou technologies and products, implement major projects for the large-scale application of BeiDou by expanding its use in consumer markets, public services, and emerging fields such as autonomous driving, the low-altitude economy, and intelligent robotics, as well as enhance the quality of international services to provide secure and user-friendly public services to more countries around the world.