A new company, APT Mobile SatCom Ltd (APSTAR) has been founded by the Shenzhen government and China Aerospace Science and Technology Corporation (CASC). It will construct a high-capacity broadband satellite at an estimated cost of 10 billion Yuan. When complete, China’s global communications system will offer a continuous, reliable and autonomous service that supports the Belt and Road Initiative and other overseas development projects.

CAS news release, July 27, 2016