This aerial photo taken on Aug 13, 2020 shows a view of Shenzhen, South China's Guangdong province. (PHOTO / XINHUA)

The Development and Reform Commission of Shenzhen Municipality on Monday issued an array of new supportive measures to bolster the city’s development of satellite technology applications.

The aim is to build a world-class and domestic leader of “satellite plus” innovation ecology in the city, as well as turning Shenzhen into a global innovation highland for satellite industries.

Financial subsidies can be as high as 300 million yuan (US$47 million) for technology research and development if they don’t exceed 40 percent of the project’s total investment. The funding will help the R&D of core components and key equipment

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Financial subsidies can be as high as 300 million yuan (US$47 million) for technology research and development if they don’t exceed 40 percent of the project’s total investment. The funding will help the R&D of core components and key equipment.

The city has pledged to select several satellite-related application demonstration projects with leading influence, broad market prospects, and significant innovative breakthroughs every year. They will receive funding of not more than 30 percent of the total project investment, up to a maximum of 30 million yuan.

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Shenzhen also encourages enterprises to participate in the construction of a BeiDou information platform and the BeiDou Navigation Satellite System, spacecraft measurement and control ground station, and the satellite communication gateway station.