Chang Guang Satellite Technology Co, a high-tech company based in Changchun, capital of Northeast China's Jilin province, is set to boost its production of satellites.

The announcement was made by company officials during a press conference held in celebration of the 100th anniversary of the founding of the Communist Party of China on June 10.

In recent years, the company has greatly reduced the cost of satellite manufacturing through continuous innovation, investment and technological advancements.

High-resolution meter-level satellites were used as an example. The original cost of such a satellite was close to 100 million yuan ($15.63 million), but now it takes less than 10 million yuan to develop one.

The weight of the satellite has also dropped.

According to company officials, Chang Guang Satellite is to develop a satellite constellation through mass manufacturing.

There will be 10 launches this year. The rockets and launch sites have been coordinated, and there will be more than 60 satellites in orbit by the end of this year.

Two batches of satellites have already been transported to the launch site and lined up for launch.

According to reports, the 60 satellites will be able to provide coverage to any place in the world within 30 minutes.