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China Accelerates the Growth of Its ‘rospace Industry

Zhang Jianhen, Vice President of China Aerospace Science and Technology Corporation (CASC) disclosed that, during the 12th Five Year plan, China will launch 100 space shuttles and satellites averaging 20 launch missions each year. One of them is Shenzhou No. 9, which is scheduled for a June to August launch this year. The spacecraft will carry three astronauts and implement China’s first space rendezvous. China will also launch 6 BeiDou (COMPASS)Navigation Satellite dishes in 2012. Their launch will mark the completion of China’s navigation system, which will cover China and the nearby regions.

According to Zhang,  CASC’s total revenue for 2011 was 100 trillion yuan and its total assets exceeded 200 trillion yuan. It plans to reach over 250 trillion yuan in revenue by the end of the period of the 12th Five Year plan.

Source: China News Review, March 12, 2012