According to a news release, China has committed to provide Euro 200 million to Galileo Joint Undertaking. With this, the project is expected to get global significance.
The Galileo Programme is a joint initiative of the European Commission (EC) and the European Space Agency (ESA) to provide Europe with its own independent global civilian controlled satellite navigation system.
The Galileo system will allow subscribers to identify their geographic location to a high degree of accuracy.
When fully deployed, Galileo will consist of a constellation of 30 satellites in 3 orbits. This allows for a range of many applications, products and services to be developed for use in transport, telecommunications, agriculture, etc.