China Is Investing $810M In Beidou, A Navigation System It Hopes Will Eventually Rival GPS

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http://techcrunch.com – China is investing $810 million into the development of Beidou (BDS), the navigation satellite system that it is positioning as a rival to the U.S.-developed GPS. According to China Daily, the money will be used to build an industrial park that will house 30 to 50 companies focused on developing an ecosystem for Beidou. Based in Tianjin, the industrial park is expected to welcome its first 20 companies in June. The Chinese government not only wants Beidou to eventually dominate China’s $19.2 billion navigation service sector, but also sees it as a way to make China’s military less (IT news)