Chinese satellite service hopes to be 4th largest by 2015

17:16, October 26, 2010      

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As the sole satellite service supplier in mainland, China Satellite Communications Co., Ltd plans to own at least 15 satellites by 2015, making it the fourth largest operator in the world, Yao Fahai, a deputy general manager of China Satellite Communications Co., Ltd., told People's Daily Online on Oct. 26.

According to the standard of European professional institutions, China Satellite Communications Co., Ltd. ranks 14th by the strength of unconsolidated financial statements. It has six satellites and an annual income of more than 100 million U.S. dollars.

But Yao said he thinks that a ranking of sixth in the world that is more accurate. After the company launches consolidated financial statements, its revenue will overtake 300 million U.S. dollars and be second only to Japan.

The company is ranked among the top three satellite service suppliers in the world, including the original International Telecommunications Satellite Organization, SES Company and the European Satellite Company.

Yao indicated that according to the new aerospace industry strategy, China Satellite Communications Co. plans to own at least 15 satellites by 2015. If it can achieve this goal, it will occupy a very important position in the world, he said.

"By 2015, we will still have a gap with the top three satellite service suppliers in the world, but we are confident we will rank the fourth in the world," Yao said.

By Zhang Qian, People's Daily Online


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