(MENAFN) A yearly report showed that the overall production value of the Chinese satellite navigation and location services sector hit 403.3 billion yuan (around USD62.75 billion) last year, a rise by 16.9 percent from the prior year.
The figures were issued in the White Paper on the Development of China's Satellite Navigation and Location Services Industry (2021), which was issued by the GNSS (global navigation satellite system) & LBS (location-based service) Association of China on Tuesday.
The sector’s main fields, which are directly linked with the improvement and application of satellite navigation technology, comprise chip, device, algorithm, software, navigation data, terminal tools and infrastructure.
These fields registered around USD20 billion in production value, an annually rise of 11 percent, making up for 32.11 percent of the sector’s total.
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