The output value of China's satellite navigation industry is expected to surpass 400 billion yuan (about 57.9 billion U.S. dollars) in 2020, according to the ongoing 10th China Satellite Navigation Conference on Thursday.

　　"Currently, we have built the complete industry chain which is made up of the BeiDou Navigation Satellite System (BDS) basic products, application terminals and systems, and operation services," said Ran Chengqi, director of the China Satellite Navigation Office.

　　The output value of China's satellite navigation industry was more than 300 billion yuan (about 43.4 billion U.S. dollars) in 2018, said Ran.

　　The BDS, independently constructed and operated by China, aims to provide high precision positioning, navigation and timing services for global users.