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Beijing accelerates development of low-altitude economy

0 Comment(s)Print E-mail China.org.cn, May 16, 2024
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Southwestern Beijing's Fengtai district officially launched an industry alliance focusing on the low-altitude economy on Wednesday. The alliance's objective is for industry leaders from across the nation to collaborate in an effort to accelerate the sector's development.

The low-altitude economy is believed to be an emerging strategic sector that involves low-altitude flight, air tourism, passenger transportation, general aviation services, scientific research and education, among others.

Initiated by the Fengtai District People's Government, the industry alliance has attracted 20 prominent organizations, including the China Academy of Aerospace Aerodynamics, China Railway Signal & Communication Corporation, Beijing Institute of Technology, and Beijing Jiaotong University.

The alliance plans to develop secure and efficient low-altitude command and dispatch systems within the year, according to a person in charge of the alliance.

In 2023, the output value of China's low-altitude economy reached 505.95 billion yuan (US$ 70.13 billion), marking a robust growth of 33.8%. Fengtai district is now home to 115 principal enterprises and 110 related firms, including 16 core enterprises that specialize in fields such as drones, low-altitude defense system, high-precision navigation, radar, and communication equipment. These enterprises collectively generate nearly 40 billion yuan in output.  

Fengtai district previously announced plans to build a 2-million-square-meter industrial park for the low-altitude economy. The industrial park will feature a 1-million-square-meter research and development base and a 1-million-square-meter manufacturing base. 

In addition, the district is planning to establish a development fund. This financial initiative, in partnership with leading enterprises and investment institutions, aims to promote rapid and high-quality development of the low-altitude economy. By 2025, the district aspires to attract at least 200 core enterprises and achieve an output value exceeding 100 billion yuan.

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