Beijing's Haidian district plans to build a hundred-billion-yuan (about 14.8 billion U.S. dollars) aerospace industry cluster in the northern region of the city's Zhongguancun Science City.
The project was released on Saturday at a press conference during the ongoing 2020 Zhongguancun Forum held in Beijing.
With a total construction area of nearly 1 million square meters, the project will include three functional zones that focus on satellite internet innovation, Beidou satellite navigation, and space information services, as well as scenario applications.
Lin Jianhua, deputy director of the Zhongguancun Science City management committee, said Haidian will provide policy support for enterprises settled in the cluster, including investment funds, rental assistance, R&D subsidies, household registration for skills, and public rental housing.
As one of the cradles of China's aerospace industry, the Zhongguancun Science City gathers more than half of the country's academics and experts, leading enterprises, and scientific research institutions in the field.
The region has formed a whole industrial chain, covering satellite development and manufacturing, ground stations and terminal equipment, satellite telemetry, tracking and control, as well as satellite operations.