BEIJING, July 10 (Xinhua) -- Chinese cities have been accelerating investment in satellite Internet industry since the strategic emerging sector was added in the list of new infrastructure in April.
The National Development and Reform Commission in April rolled out a list of new infrastructure that included 5G, satellite Internet, Internet of Things and artificial intelligence, aiming to boost technology innovation and stimulate the country's economy.
Following the move, Chinese cities have been speeding up investment in satellite Internet industry.
For example, Beijing proposed to promote satellite Internet technology innovation, industrial ecology construction, operation services, and application development.
Shanghai made construction of satellite Internet as one of its major development tasks, while Chongqing vowed to speed up the planning and construction of global low orbit satellite mobile communications and space Internet, and build a national space Internet headquarters.
The market scale of global low orbit satellite Internet service is expected to reach 110 billion to 200 billion U.S. dollars in the future, according to Huatai Securities, a China-based securities broker.
Wang Peng, an associate researcher with Chongyang Institute for Financial Studies under Renmin University of China, said that satellite Internet industry is expected to become a new engine driving global economic growth, as it is closely related to other areas such as satellite manufacturing, satellite launching, ground equipment and satellite operation.
Satellite Internet is a wireless communications network that enables global Internet access through satellites. It can provide low-cost stable signals, especially in places with limited communications infrastructure, marine space, desert and remote mountainous regions. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com)
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