March 18, 2022- 2:06 p.m.
Wuhan plans $16 BILLION “Valley of Satellites”
The Wuhan city govt is offering up $7.8MN incentives to each firm that commits to manufacturing projects for satellites, rockets and spacecraft – to build a space industry worth an estimated $16BN by 2025.
The more firms use locally-sourced products, the higher their incentives will be – following in similar footsteps to other Chinese cities like Shenzhen that offered up to six times more to firms.
China is also planning a fifth rocket launch site in Ningbo, and a commercial space port in Hainan island province.
