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China's space programme
EconomyChina Economy

ExplainerWhy China’s commercial space sector is grabbing attention – including from Elon Musk

Chinese start-up LandSpace is set to launch its first reusable rocket on Saturday. If it succeeds, it will give China’s space sector a major boost

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The Zhuque-3 rocket completes a launch test at a site in China’s northwestern Gansu province last year. The device is one of several reusable rockets under development in China. Photo: Getty Images
Sylvia Ma

On Saturday, the Beijing-based start-up LandSpace reportedly plans to conduct the maiden launch of its Zhuque-3 rocket – a reusable launch vehicle that could significantly boost China’s space industry by lowering the cost of lifting equipment such as satellites into orbit.

The prospect of China mastering reusable rockets – a technology pioneered by US-based SpaceX – has attracted significant attention from aerospace experts, and even drew comment from SpaceX CEO Elon Musk last month.

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Beyond the strategic importance of reusable carrier rockets, a successful launch would also represent a milestone for China’s commercial space sector, which has rapidly grown in recent years as Beijing bids to rival Washington in space technology.

In this explainer, the Post breaks down the current state of China’s commercial space industry, how close it is to rolling out reusable rockets, and how the technology would benefit the country’s space programme.

How far has China’s commercial space industry come?

China’s commercial space sector has grown at a rapid pace over the past few years. As of Monday, the country had more than 90,000 space-related companies, nearly 60 per cent of which were founded in the past three years, according to the Chinese corporate database Qichacha.

The industry surpassed a market value of 1 trillion yuan (US$141 billion) in 2020 and has since maintained steady growth, with a compound annual growth rate of around 22 per cent, according to an analysis by the China Centre for Information Industry Development, as cited by state news agency Xinhua.

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The centre – which is under China’s Ministry of Industry and Information Technology – projected that China’s commercial space industry would reach a market value of 2.8 trillion yuan in 2025.

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