BEIJING -- Beijing on Thursday launched an innovation base for the Beidou satellite navigation industry, aimed at accelerating the development of high-tech industries, and improving the Beidou industrial ecology in the capital city.

It will also help the city's Beidou navigation and location service industry to gather core elements, achieve high-quality development, and promote the formation of a Beidou satellite navigation industrial park with global influence.

The innovation base will bring together advantageous enterprises and institutions in all links of the industrial chain to provide integrated services, such as product development, industry incubation, international cooperation, industry exchange, and application experience.

Beijing has the most complete Beidou industrial chain layout in the country, with about 116 major enterprises, and an industrial scale of over 50 billion yuan (about $7.2 billion) in 2019, said Chen Huanwen, deputy director with the Beijing Municipal Bureau of Economy and Information Technology.