Wuhan is offering firms up to 50 million yuan ($7.88 million) in financial incentives each in projects related to the manufacturing of satellites, rockets and spacecraft.
BEIJING, March 18 – The central Chinese city of Wuhan has vowed to create a 100 billion yuan space industry by 2025 and become China’s “valley of satellites”, joining other cities tasked with developing the sector.
The amounts for the inland city are modest compared with ambitious plans outlined by other prosperous coastal cities, but the effort suggests a deepening push by China to become a major space power by 2030.
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