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The Hainan International Commercial Aerospace Launch Center is the only commercial space launch site in China so far. It is also a major landmark project for Hainan to serve China's national strategy and integrate into the new wave of space industry reform. The No. 1 launch pad, the first project to undergo construction in the Hainan International Commercial Aerospace Launch Center, took a year and a half and was completed by the end of 2023. Compared with the traditional launch pad, the newly adopted modular steel structure halved the construction period.

In addition to the just-completed No. 1 launch pad, the No. 2 launch pad is also under construction. In the future, the two launch pads are expected to launch 16 times a year, which is very efficient. With the continuous development of China's satellite technology, the number of the country's commercial satellites in orbit is expected to exceed 1,200 within five years and will have substantial launch demands. After the completion of the launch center, it will carry out important launch tasks.

In the 2024 version of the "Catalogue of Encouraged Industries in the Hainan Free Trade Port," which was implemented on March 1, the industries primarily encompass cultural tourism, new energy and aerospace. This includes commercial space launches, commercial satellite measurement and control services, research and development, manufacturing, repair and maintenance of space transportation systems, spacecraft and ground facilities, as well as aerospace food and medical research.

China's National Development and Reform Commission has formulated the country's only commercial space development promotion policy for Hainan. With these advantages, Wenchang International Aerospace City is accelerating the development of "three areas and three chains" and constructing a "space +" industrial system. They aim to build an open, international, innovative, world-class aerospace city. In the next step, multiple projects will be promoted, such as the rocket industrial park and the sci-tech innovation public platform.