The city, in Guangdong province, will support projects with up to 40% of their total investment, or as much as 300 million yuan per project, its economic planning agency said.
Shenzhen's push to develop its satellite industry<\/a> chain is in line with ongoing efforts to transform itself into a smart city powered by artificial intelligence and big data.
The beefing up of Shenzhen's satellite manufacturing<\/a> and applications capabilities comes as the Greater Bay region - comprising Guangdong, Hong Kong and Macau - develops its own satellite constellation.
In April, two commercial remote-sensing satellites were launched by a Hong Kong-based satellite operator<\/a> as part of the Golden Bauhinia project, which aims to eventually supply 11 city clusters in the Greater Bay region with near real-time data.
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