A new Beidou navigation satellite, the 16th in the Beidou Navigation Satellite System, is scheduled to be launched this month, marking the partial completion of a navigation satellite network that will cover China and parts of the Asia and Pacific region, reported the Beijing News Monday.
The system will officially provide service in the first half of next year, and is expected to earn annual revenues of 500 billion yuan ($79.78 billion).
Along with navigation, the network will provide services for mapping, telecommunications, marine transport and disaster relief.
The system, initiated in 1994, will eventually include 35 satellites by 2020.
The project is seen widely by experts as China's efforts of weaning off its heavy reliance on the Global Positioning System owned by the US.
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