BEIJING, Feb 16 (Reuters) - The local government in the China's Shanghai said on Wednesday that the city aims to be a hub for the development of space technologies, including reusable rockets which can vertically take off and land, by 2025.

The city will also set up mass production lines for low-cost commercial satellites and assembly lines for rockets, according to a notice published on the web site of Shanghai's government.

China strives to be a major space power by 2030, with several cities stepping up efforts to advance the development of satellites and rockets.

Last year, the southern tech city of Shenzhen offered up to 300 million yuan ($47 million) in financial incentives for every project related to the development of satellites and related industry applications.

China is also planning a new commercial space port in the southern province of Hainan. It is also constructing China's fifth rocket launch site in the eastern port city of Ningbo in Zhejiang province.

Reporting by Liangping Gao and Ryan Woo; Editing by Raju Gopalakrishnan

Source: Reuters

Powered by NewsAPI.org