As China forges ahead with its high-quality development, new quality productive forces are taking the center stage. One of the key players, the commercial space sector, is experiencing rapid growth and making a mark on the global stage.
In December 2023, Beijing Interstellar Glory Space Technology, better known as iSPACE, conducted another successful test of its own reusable launcher, marking a step toward a fully functional, domestically manufactured reusable rocket for China’s commercial spaceflight industry.
This private Chinese aerospace company is looking to catch up with the world’s most advanced rocket technologies. “There is still a long way ahead. But we’re catching up fast,” Anna Choi, vice manager of iSPACE, told Xinhua in a recent interview.
In 2019, the Chinese startup successfully launched its SQX-1 Y1 rocket, sending two satellites into a 300-km circular orbit. It was the first time a private Chinese company managed to put a satellite into orbit.
iSPACE is one of several Chinese enterprises active in the commercial aerospace industry in recent years. The country has experienced an explosion of commercial space companies since 2014, driven by the government’s opening up of the sector to private capital.
According to media reports, in 2023 alone, the country’s private commercial spaceflight companies managed more than 10 successful launches.
Like iSPACE, most of these enterprises are headquartered in Beijing, attracted by the capital’s rich talent pool and supportive policies.
Beijing in February 2024 announced plans to establish a dedicated “Rocket Street” as a research and production hub for advancement of the commercial aerospace sector. Construction started last month at the Beijing Economic-Technological Development Area (BDA), located in a southeastern suburb of Beijing.
“Through the ‘Rocket Street’ program, we hope to leverage the cluster advantage to facilitate the development of the sector,” said a BDA official.
The capital city’s endeavor to foster the commercial aerospace sector comes amid the country’s efforts to develop new quality productive forces to help advance the world’s second-largest economy up the global value chain. Developing commercial spaceflight was listed among the key areas for development in China’s government work report this year.
China’s commercial space sector takes off amid tech innovation push-Xinhua (news.cn)