A night view of Wuhan, Hubei province [Photo/VCG]

Central China's Hubei province released a three-year action plan (2023-25) on Feb 8 for the development of the Beidou navigation satellite industry.

Hubei is expected to become a nationally-innovative Beidou industrial hub that attracts high-end talent to the area and a pilot zone for the large-scale application of the Beidou navigation satellite by fully conducting the six major programs stated in the action plan.

These programs involve boosting innovation, large-scale application, strengthening industrial chains, cultivating market entities, cultivating talent, and reshaping the industrial system. For example, top talent and research teams in this area will be able to enjoy customized talent services and policies.

The development goal for the industry, according to the plan, is that by 2023, 2024, and 2025, the Beidou industrial scale should reach 65 billion yuan ($9.6 billion), 80 billion yuan, and 100 billion yuan, respectively, accounting for over 10 percent of China's total.

Other related targets in innovation and market entities were also set in the action plan, including fostering one to two leading enterprises worth 5 billion yuan, more than five firms worth 1 billion yuan, and eight listed corporations, as well as building 10 top-notch innovation platforms and cultivating two to three academicians in the field.