Beijing Launches "Rocket Street" to Boost China's Commercial Space Industry

Beijing Launches "Rocket Street" to Boost China's Commercial Space Industry
Image credit: Xinhuanet 

Beijing has initiated the "Rocket Street" project, aiming to create a national-level scientific research and production hub to advance China's commercial space sector. This ambitious project is set to be located in Beijing E-town, an economic and technological development area in the southeast of the city, spanning a total floor space of 140,000 square meters.

Project Facilities and Features

Key features of the "Beijing Rocket Street" project include a common technological platform, a high-end manufacturing center, and an innovation research and development center. Additionally, an interactive exhibition hall for science and technology will be established, offering visitors immersive virtual reality experiences.

Government and Industry Collaboration

The local government expects the project to help rocket enterprises explore new technologies and broaden their application scenarios. It has also initiated a commercial space alliance, uniting businesses, universities, institutions, and cooperatives to drive the industry forward.

Beijing E-town and Aerospace Companies

Beijing E-town is already home to over 70 aerospace companies, including 75 percent of China's private rocket makers. In 2023 alone, these enterprises, all headquartered in Beijing, completed 13 space launches.

Beijing E-town and Aerospace Companies
Image credit: Xinhuanet 

National and Regional Support for Commercial Space Industry

Following the government's work report earlier this year, which emphasized the commercial space industry as a key growth driver, various regions such as Shanghai, Hunan, and Sichuan have also launched development plans to support the industry.

Market Growth and Economic Impact

China's commercial space market has seen rapid growth since 2015, with an average annual increase of over 20 percent from 2017 to mid-2023. This year, the market is projected to be worth 2.34 trillion yuan (approximately 328 billion U.S. dollars).