Shanghai Initiates Satellite Internet Industry Fund to Foster Space Economy

China News Service reported that Shanghai launched preparations for a satellite internet industry fund during the 2026 Satellite Internet Industry Ecology Conference on October 27. Jointly initiated by municipal and district investment platforms alongside social capital, the fund is intended to leverage state-owned capital to empower technical innovation and cultivate an industrial ecosystem. An earlier development action plan outlined specific targets for Shanghai from 2027 through 2030, aiming for more than 3000 satellites in orbit by 2030. On the manufacturing side, the G60 satellite digital factory in Songjiang has attained an annual production capability of 300 satellites, requiring 1.5 days to manufacture a single satellite. Satellite internet serves downstream sectors including satellite manufacturing, rocket launching, ground terminals, chip modules, and telemetry operations, while connecting upstream to 6G, artificial intelligence, and space-based computing.

Because forming foundational service capabilities requires launching hundreds or thousands of satellites during multi-year initial investment periods, commercial financial capital struggles to maintain patience during constellation network deployment.