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China To Establish $10 Trillion Economic Zone In Space - daily business report - 11-04-2019

China To Establish $10 Trillion Economic Zone In Space

Having already created 12 free trade zones (with 6 more coming soon) in and around major Chinese metro areas.... Beijing's next project to boost commerce is more ambitious than anything seen on earth before. Literally.According to the Global Times, China plans to establish an Earth-moon space economic zone by 2050, which is expected to generate $10 trillion worth of services per year. The zone will cover areas of space near Earth, the moon and in between.Bao Weimin, director of the Science and Technology Commission of the China Aerospace Science and Technology Corporation, revealed the ambitious plan at a seminar last week on the space economy, Chinese media reported Friday. CAST is a state-owned company focused on researching, making and launching carrier rockets, satellites, spacecraft and space stations. Perhaps because by 2050 all of China will be one giant free trade zone (even though the US Trade war will still not be over), the proposed zone will cover areas of space near Earth, the moon and in between, Weimin said, adding that companies involved in basic industries, application exploration and development will feature at the zone, which will focus on three key fields: interspace transport, space resource detection and space-based infrastructure.In a report on developing earth and moon space, Bao shared his thoughts on the economic potential in this field and pledged that the country would study its reliability, cost and flight-style transportation system between the Earth and moon, The Science and Technology Daily reported Friday.He pledged to complete basic research and make a breakthrough on key technologies before 2030 and establish the transportation system by 2040.  By 2050, China could successfully establish an earth-moon space economic zone, he said.Read the entire article