(Yicai Global) May 21 -- Lei Jun, the founder, Chairman and Chief Executive of Chinese handset giant Xiaomi, suggested today that China should support and encourage private aerospace firms to go public on Shanghai's Sci-Tech Innovation Board better known as the Star Market.

Lei will attend the Two Sessions annual legislative meeting in Beijing that start today and tomorrow as a deputy to the National People's Congress. He also advised setting up national funds for the development of private aerospace and the satellite internet sector.

Lei Jun has invested in Galaxy Space, a Beijing-based private aerospace firm, via his Shunwei Capital. The firm sent its first satellite into orbit in January.

Editor: Ben Armour