Wuhan, the central city in China from which COVID-19 first emerged, has promised to create a 100 billion yuan (USD 15.7 billion) space industry by 2025 and give the country its “Valley of Satellites”, and join other cities that have the task of developing the country. Sector.
As per the city government’s note, the city is offering companies up to 50 million yuan ($ 7.88 million) in cash incentives each in projects related to the manufacture of satellites, rockets and spacecraft.
The quantities for Wuhan are modest compared to the ambitious plans of other rich coastal cities. However, the effort suggests a deepening of China to become a significant space power by 2030, reports India Today.
China envisions huge constellations of commercial satellites that provide services such as high-speed Internet for airplanes and coal-ship tracking.
Adopt local equipment
According to reports, the city government of Wuhan will encourage companies to adopt local equipment, services and software.
If a company uses local articles in over 10 percent of the production of high-orbit and low-orbit satellites and spacecraft, it will receive financial incentives of up to 15 million yuan.
If local products account for over 30 percent, the company will receive up to 50 million yuan.
In 2021, the tech city of Shenzhen in southern Guangdong province provided up to 300 million yuan in incentive for any initiative related to satellite development and industry-related applications.
China is also planning a new commercial spaceport in the southern island of Hainan province.
It also builds its fifth rocket launch site separately in the eastern port city of Ningbo in Zhejiang Province.
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