A constellation of space-technology companies from the Chinese
mainland, Hong Kong and Israel signed contracts yesterday in
Beijing to make and launch two satellites for the special
administrative region in 2004 and 2006.
The two commercial communication satellites, to be manufactured by
Israel
Aircraft Industries (IAI), will be launched atop China's Long
March 3A rockets to serve the Asian market, including China, said
David Chu, chairman of the Hong Kong Satellite Technology Holdings
Ltd.
If
the two are successful, another eight communications satellites
will follow suit within six years to form a "sky network" of HKSAT
series, and "bring knowledge to people," said Chu, also a member of
the Legislative Council of the Hong Kong Special Administrative
Region.
Under the landmark deals, China Aerospace
Science and Technology Corp (CASC) will serve as a
subcontractor for the satellite project, producing sub-systems and
components of the satellites and offering launch services, said
company president Zhang Qingwei.
Touting the cooperative project as the "largest commercial
collaboration" between the mainland and Hong Kong, Chu claimed the
new satellites will benefit every Chinese -- and the Asia-Pacific
region at large -- by providing digital communications, remote
learning and broadband Internet access.
"For one thing, the Direct-to-Home TV, which is not available in
Hong Kong but is in almost every part of developed countries, will
soon be ready for every Hong Kong resident when the satellites are
operational," he said.
For Zhang, the satellite project will not only bring customers for
the Long March rockets, but also help propel the development of
high technology in Hong Kong, and thus contribute to the region's
prosperity.
The production, management and marketing of the satellites will be
all undertaken by the Hong Kong Satellite Technology Group (HKSTG),
which was founded yesterday and includes Chu's company, the CASC,
the Beijing-based Sino Satellite
Communications Co and IAI.
The group will invest US$350 million for the initial two
satellites, Zhang said. But Chu estimated each of the satellites
will cost US$200 million.
"We are a majority shareholder, holding 70 percent of the group's
shares," Chu said. "If the government is a major shareholder,
inevitably there will be a lot of bureaucracy. We can operate much
more commercially and efficiently."
(China
Daily January 18, 2002)