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How does aerospace contribute to China's economy?

www.chinanews.cn 2005-10-13 14:13:51

Chinanews, Oct. 12 - According to estimate of many US and European
research institutions, every one dollar invested in the aerospace area
will return 7 to 12 dollars. As China has already become a large country
in aerospace, how much driving force will aerospace bring to its national
economy?
China is accelerating the process of industrializing aerospace. China
Aerospace Science & Technology Corporation (CASC) proposed two 100
billion yuan (US$12.33 billion) goals, namely, CASC's total asset reaches
100 billion yuan by 2005 and its gross revenue reaches 100 billion yuan
by 2010. CASC deputy general manager Xu Dazhe said that China has
launched tens of satellites for meteorology, resource, communication and
oceanography, and the manned space flight project has achieved a good
start. Although it is very difficult to exactly calculate how much
production value and profit has been generated by aerospace at present,
people cannot live a normal life without aerospace science and technology.
Derivate market value of sci-tech fruits after their civil application is
too hard to forecast. Aerospace brings much more benefit through driving
other industries than its direct benefit. Statistics from CASC show that
among the 1,000-odd new materials surfaced in China in recent years, 80%
are developed based on space technology. Nearly 2,000 space technologies
have been applied to every sector of the national economy.
More importantly, aerospace ability and level is a major embodiment of a
nation's core competitiveness. Aerospace has a more significant radiating
function in enhancing a nation's comprehensive strength, national
cohesion and self-confidence as well as greatly elevating the nation's
voice and status in the international community.

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