Chongqing - In a major industry milestone, iiMedia Research predicts the aerospace information industry will surpass one trillion yuan (140 billion U.S. dollars) by 2025. Continuing the trend, international exchanges and collaborations are set to propel the aerospace information industry to new heights.

The Aerospace Information Industry International Ecosystem Event 2023 launched in Chongqing, Southwest China, from November 20 to 21. 

This significant event attracted over 1,000 participants, including representatives from industry chains, domestic and international institutions, and government agencies, all converging to advance the aerospace information sector.

A 100 billion yuan fund group in Chongqing

Openness, trust, and tolerance are necessary for any successful cooperation, and this is also true in the aerospace information industry, said Olivier Contant, academician and Executive Director of the International Academy of Astronautics, at the event. He thinks that humankind can reach unprecedented heights in international exchanges through high-level cooperation.

Two major initiatives were launched during the event. The International Ecological Alliance for the Aerospace Information Industry was established to foster internationalization and market-driven approaches. 

This alliance comprises industry leaders, well-known enterprises, investment institutions, scientific research institutions, etc.. It is set to facilitate global exchange and cooperation, enhancing cross-border collaboration and industrial integration in the aerospace information field.

The Aerospace Information Industry International Ecosystem Event 2023 occurred in Chongqing, Southwest China, from November 20 to 21. (Photo/Chongqing Release)

In a significant development for China's aerospace sector, the event marked the debut of the nation's first aerospace information industry community. A groundbreaking aerospace information industry fund group with an impressive scale of 100 billion yuan was unveiled. 

This fund, supported by ten investment institutions, including the National Industry Investment Fund, is dedicated to nurturing leading global and publicly listed companies. Its focus will primarily be on aerospace information infrastructure and related areas.

The event also saw the signing of 19 companies as the first members of the new aerospace information industry community. Prominent names such as LandSpace and China Siwei were among the signatories, marking a significant milestone in the development of this industry.

15 innovative application scenarios

At the opening ceremony in Chongqing, a significant announcement revealed 15 innovative application scenarios for airspace information technology. These applications cover a range of fields, including public security, natural resources, transportation, emergency services, foster care, and energy.

In response to this development, the Chongqing Municipal Government intends to guide pertinent businesses in creating and applying these scenarios.

This support includes prioritizing these companies for connections with policy-driven financial institutions and associated funds. Additionally, they will benefit from customized financing matching services tailored to their specific needs in scene construction.

For instance, in a move to support Chinese specialized and innovative enterprises, they will now benefit from an increased maximum credit limit of 10 million yuan for commercial value credit loans.