The export value of China's self-developed Beidou navigation satellite system (BDS) hit a record 469 billion yuan ($69 billion) in 2021, an increase of 16.29 percent year-on-year. According to the document published on Wednesday.
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A white paper released by the Global Navigation Satellite System (GNSS) and Location Based Service (LBS) Association of China, also known as GLAC, states that China generally has established the BeiDou industrial system.
China remained the source of filing for 98,000 international satellite navigation system patents last year, the report said.The rapid growth occurred after the BDS-3 system began commissioning and service to users worldwide on July 31, 2020, which has stimulated and spurred demand and investment in the application of BDS technology.
Yu Xiancheng, Chairman of GLAC, told China Media Group (CMG), "China's satellite navigation and positioning services industry is entering a new stage of building an all-encompassing spacetime system. In this context, the BeiDou system is having important role in stimulating and leading economic and social development