China creates launch pad for commercial aerospace

China's commercial aerospace sector is recording rapid growth and making its mark on the international stage.

A simulated rocket launch rehearsal at China's first commercial space center in Hainan Province, June 30. (Source: Xinhua)

Earlier this year, the capital Beijing announced plans to establish "Rocket Street" as a research and manufacturing hub to promote the development of the commercial aerospace industry.

The center broke ground last month in the Beijing Economic -Technological Development Zone (BDA), located in the southeastern suburbs of Beijing.

In December 2023, Beijing Interstellar Glory Space Technology, better known as iSPACE, successfully conducted another test of its reusable rocket launch system, marking a step toward a fully functional, domestically produced, reusable rocket.

This private aerospace company is trying to catch up with the world's most advanced rocket technology. In 2019, this Chinese startup successfully launched the SQX-1 Y1 rocket. This was the first time a private Chinese company had put a satellite into orbit.

iSPACE Deputy Director Anna Choi said both the company and the entire aerospace industry are growing at a rapid pace, thanks to technological innovation and supportive government policies.

China has seen a boom in commercial space companies since 2014, spurred by the government’s opening up of the industry to private investment. In 2023 alone, the country’s private commercial space companies reportedly conducted more than 10 successful launches.

China is now looking to develop new quality manufacturing forces to help move the world’s second-largest economy up the global value chain. Developing the commercial aerospace industry is among the key areas of development in China’s government work report this year.

Source: https://baoquocte.vn/trung-quoc-tao-be-phong-cho-hang-khong-vu-tru-thuong-mai-283000.html