China has unveiled its ambitious 'Beijing Rocket Street' project in the heart of the capital's E-town, marking a significant step towards advancing the nation's commercial space industry.
Situated within Beijing E-town, an economic and technological development area spanning 140,000 square meters, Beijing Rocket Street aims to establish a national-level scientific research and production hub. This initiative supports the rapid growth of China's commercial space sector, which saw a total of 13 space launches by private enterprises headquartered in Beijing in 2023.
E-town is home to over 70 aerospace companies, including 75% of China's private rocket makers, fostering a vibrant cluster of innovation and manufacturing. The area boasts a common technological platform, a high-end manufacturing center, and an innovation research and development center, setting the stage for cutting-edge advancements in space technology.
Future plans for Beijing Rocket Street include an interactive exhibition hall that will provide visitors with immersive virtual reality experiences, showcasing the latest in science and technology. The local government anticipates that this project will help rocket enterprises explore new technologies and expand their applications, further solidifying China's position in the global space market.
In addition to the infrastructure, a commercial space alliance has been spearheaded, bringing together businesses, universities, institutions, and cooperatives to collaborate on space exploration and innovation. This collaborative approach aligns with the Chinese government's broader strategy, highlighted in its recent work report, which emphasizes the commercial space industry as a key driver for new economic growth.
Provincial regions like Shanghai, Hunan, and Sichuan have also introduced development plans to enhance their space sectors, reflecting the national momentum. Data reveals that China's commercial space market has been expanding rapidly, with an average annual growth rate of over 20% from 2017 to mid-2024, and it is projected to reach a market value of 2.34 trillion yuan (approximately $322.7 billion) in 2024.
Reference(s):
China opens 'Beijing Rocket Street' to boost commercial space industry
cgtn.com
