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China’s homegrown navigation network BeiDou offers alternative to GPS
- Wednesday | 26th May, 2021
BEIJING (Reuters) – BeiDou, China’s answer to the US-owned GPS navigation system, will back domestic products and related services worth 1 trillion yuan ($156.22 billion) by 2025, the official Xinhua news agency said on Wednesday. The homegrown Chinese navigation network, completed in June 2020, looks to offer an alternative to the Global Positioning System (GPS) run by the US Air Force, spurring further growth in the domestic satellite market. Related BeiDou products have been exported to about 120 countries, serving more than 100 million users worldwide, the news agency said. BeiDou products, such as chips and modules, are comparable to similar products in other navigation systems, Xinhua said. ($1=6.4012 Chinese yuan renminbi)(Reporting by Liangping Gao and Ryan Woo; Editing by Clarence Fernandez and Devika Syamnath)
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