With an expenditure of approximately 700 million yuan, China will establish its first navigation industry base in Xi'an, capital of northwest China's Shaanxi Province. The base aims to congregate enterprises specializing in research and development for navigation technologies and producing navigation devices.
Certain statistics indicate that China's domestic navigation market reached 2.86 billion yuan in 2006 and will continue to grow at an annual rate of 136 percent over next four years. By 2010, China's satellite navigation market is expected to hit 61.48 billion yuan.
For more details, please read the full story in Chinese. (http://www.cs.com.cn/xwzx/05/200801/t20080102_1338650.htm)
(China.org.cn January 3, 2008)
