Annual financing in the sector exceeded US$2.5 billion last year, up 32 per cent year on year. The broader commercial space industry is estimated to be worth more than US$350 billion.
State media have also reported that at least five private rocket makers are considering initial public offerings, a sign of growing investor interest.
Orion Astropreneur Space Academy’s Dong said such momentum is important to attract both investors and public attention to the sector.
But he added that as the industry becomes increasingly commercially driven, the challenge will be whether Chinese space companies can generate sustainable revenue from their operations.
SPACE FOR THE PUBLIC
China’s space ambitions are also reaching a wider audience.
In January, Chinese startup InterstellOr announced it had sold tickets for a 2.5-hour spaceflight priced at US$430,000. The flight is expected to take place around 2028.
The company said more than 20 people, including an actor, have signed up.
For some members of the public, space tourism is a sign of how far the country has come.
“They can all go on space trips. Things that we never dared to imagine before can now be realised,” said Wang, who works in the petrochemical industry and gave only his surname, during a visit to the Shenzhen Science and Technology Museum on Jan 29.
Younger generations are also inspired.
“I want to see whether the Earth is flat or not. Since I haven’t been to space, I don’t know if these theories are true. I just want to go up there to verify it,” said a primary school student at the exhibition.
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