Business scale of Beidou satellite navigation industry in east China's Shanghai municipality is expected to grow over 20 percent year on year in 2015, to more than five billion yuan, the Xinhua-run cnstock.com reported on Thursday.
The municipality included the satellite navigation industry into the catalogue of strategic emerging industry as early as at the end of 2012 and established a special funds to support its development.
Since 2013, Shanghai's satellite navigation industry has maintained over 20 percent growth in business scale. It has gathered a group of enterprises with development potential on the Beidou industrial chain to support the city's development in fields of Internet of vehicles, Internet of Things, smart traffic and logistics.
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