Tech

Wuhan aims to become China’s “Valley of Satellites” in the Space Initiative

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BEIJING, March 18 (Reuters) – The central Chinese city of Wuhan has vowed to create a 100 billion yuan ($15.7 billion) space industry by 2025 and become China’s “Valley of Satellites” by joining other cities connected, in charge of the development of the sector.

Wuhan is offering companies up to 50 million yuan ($7.88 million) in financial incentives each for projects related to the manufacture of satellites, rockets and spacecraft, according to a municipal government announcement on Wednesday.

The amounts for the inland city are modest compared to the ambitious plans of other wealthy coastal cities, but the efforts point to a deeper push by China to become a major space power by 2030.

China envisions massive constellations of commercial satellites capable of offering services ranging from high-speed Internet for airplanes to tracking coal shipments.

The Wuhan Municipality will encourage businesses to use locally-sourced equipment, software and services.

If a company uses local products in more than 10% of the production of high and low orbit satellites and spacecraft, it will receive financial incentives of up to 15 million yuan.

If local products account for more than 30%, the company will get up to 50 million yuan.

Last year, the tech city of Shenzhen in southern Guangdong province offered up to 300 million yuan in incentives for each project related to the development of satellites and related industrial applications.

China is also planning a new commercial spaceport in the southern island province of Hainan.

In the eastern port city of Ningbo in Zhejiang province, China is separately building its fifth rocket launch site.

https://nypost.com/2022/03/18/wuhan-aims-to-become-chinas-valley-of-satellites-in-space-initiative/ Wuhan aims to become China’s “Valley of Satellites” in the Space Initiative

JACLYN DIAZ

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