China is expected to invest 7 billion yuan ($1.13 billion) to support the development of industries related to the country's Beidou satellite navigation system before 2015, an industry insider said.

"Industries related to the Beidou system are entering a booming development stage," Yang Qiangwen, a senior engineer at the China Satellite Navigation Office, said at the Fourth China Satellite Navigation Conference on Thursday in Wuhan.

According to the office's figures, the central government has already invested around 3.5 billion yuan to boost industries related to the Beidou system.