In this March 30, 2018 photo, China sends twin satellites into space with a single carrier rocket, adding two more members for its domestic BeiDou Navigation Satellite System (BDS), in Xichang of southwest China's Sichuan province. (LIANG KEYAN / XINHUA)
BEIJING - China's satellite navigation and location services industry achieved a total output value of 301.6 billion yuan (US$43.93 billion) in 2018, up 18.3 percent than the previous year, according to an annual report.
The data was published in the White Paper on the Development of China's Satellite Navigation and Location Services Industry (2019), released by the GNSS (global navigation satellite system) and LBS (location-based service) Association of China, on Wednesday.
The industry's core sectors, which are directly related to the development and application of the satellite navigation technology, include chip, device, algorithm, software, navigation data, terminal equipment and infrastructure. These sectors reported 106.9 billion yuan in output value, accounting for 35.44 percent of the industry's total.
The BeiDou Navigation Satellite System (BDS) contributed 80 percent to the output value generated by the core sectors. The system raked in a total of 194.7 billion yuan with related products and services.
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