CHINA South China's Shenzhen subsidizes up to $47 million to promote innovative satellite development

CHINA

South China's Shenzhen subsidizes up to $47 million to promote innovative satellite development

Global Times

18:05, June 08, 2021

A Long March-4B rocket carrying the Haiyang-2D (HY-2D) satellite blasts off from the Jiuquan Satellite Launch Center in northwest China, May 19, 2021.(Photo: Xinhua)

Shenzhen, South China's Guangdong Province on Monday released a set of measures, including aid worth up to 300 million yuan ($47 million) to transform the city into an innovation hub for the satellite and application industry.

A document posted on the website of Development and Reform Commission of Shenzhen said that a series of projects focused on R&D and manufacturing of heavy equipment and key components in core sectors such as the comprehensive application of communications, navigation and remote sensing satellite will be launched.

These projects are expected to be able to access subsidies worth up to 300 million yuan, according to the document.

The local government supports enterprises to establish self-controllable, safe and reliable high-throughput broadband communications satellite system and remote-sensing satellite constellation, with subsidy worth up to 200 million yuan to be given to high-orbit satellites and 50 million yuan to low-orbit equipment.

In addition, the document also encourages innovative application for satellites across a range of industries including transport and logistics, city security and environmental protection, an additional subsidy worth up to 30 million yuan will be provided to demonstration projects.

The government also encourages the R&D and commercialization of satellite application terminal products including BeiDou Navigation Satellites System-based navigators and remote sensing map drawing instrument, with subsidy worth up to 15 million yuan in planning.

Global Times

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