China launched a new fund of 1 billion yuan ($142 million) on Wednesday, in a bid to promote self-developed BeiDou Navigation Satellite System's (BDS) speedy applications.

The "Beidou Smart Manufacturing Plan" will provide the funds and technological support to build developer ecosystems to help software developers create products in new application scenarios engaging more sectors, Shanghai Securities News reported.

The new plan will open the Application Programming Interface (API) on BDS to developers, meaning the access threshold for the homegrown, high-precision navigation system will be largely lowered. New products' development efficiency will be improved too.

Shanghai-based, high precision positioning service provider Qianxun SI, which hosts the new program, will produce hardware that allows developers to test their products on mobile phones and computers, said the report.

The Beidou application program will launch cooperation with arrange of companies, including Alibaba Cloud, Qualcomm, Broadcom and u-blox, to help developers to expand application in industry and services sectors.

China's BDS application industry has realized a complete industrial chain consisting of basic products, application terminals, application systems and operational services, the report said.

China has been rapidly expanding BDS' application in all sectors to achieve large-scale commercialization, according to the 2019 report on the industrial development of China's satellite navigation and positioning services issued in May.

A smart city construction technology and data support system is gradually being completed. The system uses the time and space data provided by BDS, transits the information via 5G communication system, analyses massive data with big data technology and uses cloud computing technology for intelligent processing, the report said.

The Civil Aviation Administration of China (CAAC) on Thursday held a conference to accelerate BDS' application in sectors like general aviation, transport aviation and domestic commercial aircraft, Shenzhen-based financial news site stcn.com reported.

The aviation industry should attach great importance to the application of BDS to build civil aviation power, said the conference. The route for BDS' application in aviation was revised during the conference, the report said.