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Chinese Tycoon Wang Jing to Develop Constellation of Satellites: Reports

RIA Novosti

17:55 27/10/2014

MOSCOW, October 27 (RIA Novosti) - Chinese Tycoon Wang Jing, known for his ambitious plan to build a canal linking the Pacific and Atlantic oceans, has unveiled plans to develop a constellation of satellites aimed at providing low-cost mobile communication services across China, the South China Morning Post (SCMP) reported Monday.

'We're planning to launch four satellites on one rocket over three years, to eventually set up a mobile communications constellation of at least 32 satellites,' Wang was quoted as saying by the newspaper.

According to Wang's statements, the project should be completed by 2019, in time for the 70th anniversary of the founding of the People's Republic of China.

Wang's company, Xinwei Telecom Enterprise Group, already launched a low earth orbit satellite last month in Inner Mongolia in collaboration with Tsinghua University in Beijing making it the first private company in China to invest in its strictly controlled space industry.

According to the newspaper, Wang denies any association with the government, calling himself a simple businessman who is more interested in developing homegrown satellite technology than gaining financial reward.

'I made the decision because it was useful for the country… I did not really care about the company's valuation,' Wang was quoted as saying.

Meanwhile Professor Lu Jianhua, leading the project at the Tsinghua University, said that it could offer services with similar pricing to earth-bound telecommunication services, which he added, did not cover many parts of the country.

'It will provide an appealing alternative to the expensive Inmarsat services for ordinary Chinese users, as 80 percent of the country's land territory and 95 per cent of its maritime territory are yet to be covered by telecom networks,' SCMP quoted Lu as saying.

41-year-old Wang Jing is ranked 224th on the Forbes list of the world's billionaires this year, with his wealth estimated at $6.3 billion.

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