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Space economy fever in China
2005-10-18 02:36:27 CRIENGLISH

BEIJING, Oct. 18 -- As China has successfully launched its Shenzhou 6 and 2 Taikonauts, space exploration is a hot discussion, as this historic movement boasts technical, and most importantly, economic benefits.

The launch and return of Shenzhou 6 has cost China 1 billion Yuan, but the turnover, according to experts, should be 5 to 6 times that figure. The development of space industry's development has historically been a strong impetus for a nation's growth and China is continuing this trend. China's space mission has boosted related industries and created domestic value of approximately 100 billion Yuan.

There are thousands of manufacturers getting involved in developing and producing spare parts for the craft. They are strongly urged to innovate and advance technology for both the space mission and for future civil use.

After China's first astronaut Yang Liwei stepped out of his Shenzhou 5 craft, Chinese people began to see their daily necessities' brands becoming special or sole providers for the astronauts. From milk to watch, from clothes to candies, a variation of companies have tried to market products to relate, or ideally, to travel to space.

Stock markets also reacted positively. All companies involved in space exploration have seen their stock prices hike over 7-10 percent in the past few days.

Another big winner is the entertainment and advertising sector. It is estimated that 500 million audiences around China would watch live programs of the launch and return of the spacecraft. And what does this figure mean to companies involved?

Prices of advertising on China Central Television, the sole TV station for live programming, ranged from 2.6 million to 8.6 million Yuan for a 5 to 30 second ad. Though appallingly high, companies have shown great interest.

Many have sought to become sponsors or partners of the event, as a Chinese milk maker in 2003 has given a successful example by paying Shenzhou 5 to put the company's name in the craft. Soon after Yang's success, the company received enormous and satisfying feedback.

But, insiders worry that many companies will use the names of astronauts, missions, and space crafts without proper authorization from the China National Space Administration.

For realtime Beijing, this is shen ting.

(Source: CRIENGLISH.com)

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