China's BDS Provides Service for Over 1 Billion Users Around World

China's BeiDou Navigation Satellite System (BDS) provided high-precision service for more than one billion global users in 2021.

In that year China North Industries Group Corporation Limited (NORINCO Group) launched a national BDS application and development research institute and completed construction of the national BDS ground base augmentation system, which is now in stable operation.

Over the past year, NORINCO Group kept enhancing its strategic resource guarantee capability and supporting construction of major projects under the framework of the Belt and Road Initiative.

In 2021, the company realized operating revenue of 526.9 billion yuan ($83.46 billion), up 7.5 percent year-on-year, and achieved a total profit of 22.63 billion yuan and a net profit of 17.8 billion yuan, up 15.5 and 17.2 percent year-on-year, respectively.

What's more, the company built five new national innovation platforms. One of its projects won the second prize for the State Scientific and Technological Progress Award and 56 won the prize of Scientific and Technical Progress of National Defense Industry.

(Executive editor: Niu Yilin)