A commercial satellite launch center is slated to be built in the coastal county of Xiangshan in Ningbo, according to local media reports.

The launch center is expected to span 67 square kilometers and be divided into two parts: a 35-square-kilometer satellite launch site and a 32-square-kilometer industrial supporting area.

With a total investment of 20 billion yuan ($3.08 billion), the center will be able to launch 100 space vehicles per year.

In addition, it will serve as a manufacturing and R&D center for rockets, satellites and other supporting aerospace facilities.

According to the official website of the China Aerospace Science and Technology Corporation, Ningbo and CASC had reached an agreement in December last year to construct the satellite launch center in Xiangshan.

The move is in response to the foreseeable surge in demands for commercial satellites.

Dou Xiaoyu, vice president of CASC, said at the annual meeting of the nation's top legislature earlier this year that China will see explosive growth in commercial satellites usage in the next five to 10 years and a massive increase in satellite applications.

As such, more launch sites for commercial satellites are urgently needed, he noted.

China now has three inland satellite launch sites and one coastal launch site. The latitude of the launch site to be built in Xiangshan is close to the Xichang Satellite Launch Center in Sichuan province.