China's BeiDou industries to exceed 1 trillion yuan in 5 years

Industries based on the BeiDou Navigation Satellite System (BDS) are likely to see their scale top 1 trillion yuan (about 144.9 billion U.S. dollars) in five years, according to China's National Development and Reform Commission (NDRC). Currently, the BeiDou Satellite Navigation System has entered a phase of rapid development featuring market operation, industrial application and international cooperation.

BeiDou's high-precision services are employed across various fields, including transportation, logistics, agricultural machinery, and deep-sea fishing. Additionally, its short message service offers a reliable backup for emergency response and disaster relief.

The NDRC stated that during the 15th Five-Year Plan period, China will continue to implement the project for large-scale application of BeiDou and strive to expand the Beidou industry's scale to exceed 1 trillion yuan within five years.

In the future, China will continue to foster the development of new BeiDou technologies and products, implement major projects for the large-scale application of BeiDou by expanding its use in consumer markets, public services, and emerging fields such as autonomous driving, the low-altitude economy, and intelligent robotics, as well as enhance the quality of international services to provide secure and user-friendly public services to more countries around the world.

The Chinese and U.S. delegations convened in Paris on Sunday morning for talks on economic and trade issues.

Guided by the important consensuses reached between the heads of state of the two countries during their meeting in Busan and all previous phone calls, the two sides will engage in consultations on economic and trade issues of mutual concern, a spokesperson for China's Ministry of Commerce said in a statement on Friday.