Today, China's private rocket company OneSpace is going to attempt to put its first self-developed carrier rocket, the OS-M, into orbit. The company's CEO says if the launch is successful, it will be a first for a Chinese small rocket, and only the third in the world. CGTN's reporter Liu Yang spoke with him about the planned launch, the industry's challenges and future.

SHU CHANG, CEO ONESPACE "This launch is a special launch for the whole industry, as you may know, we launched two suborbital rockets last year, but this time we are going to launch 4-stage rocket. If we got success, it would be the first private Chinese rocket company which can send the satellite into the orbit."

LIU YANG CGTN "Where do you think the gaps lie between Chinese private rocket companies and the world's top private rocket companies?"

SHU CHANG, CEO ONESPACE "Technical gap. Rocket companies in China most are new start-ups. If we got more innovation and put more money in this area, I think we can even get more success in some niche markets. Compare to the mature legal system and regulations in the U.S., we are still lack of regulations and rules for commercial space companies. So every step we take, we take risk. The space agency has done a lot to improve the whole legal atmosphere in this area."

LIU YANG CGTN "Some people say that private rocket companies in China are still in the experimental stage, and haven't got real commercial value yet. What will the biggest challenges be for the future technology and market in this field?"

SHU CHANG, CEO ONESPACE "If you want to make a high performance rocket, you need better component. We call this integrate control, this is the brain of the rocket, send out signals and control and receive signals, just small thing. We reduce the weight to 10 %, we send small satellite below 200 kg to space, that is different market."

LIU YANG CGTN "Some say Chinese commercial space enterprises will face their first reshuffle in the next few years. How does your company plan to win this battle?"

SHU CHANG, CEO ONESPACE  "There are more than 10 rocket companies in China now, there is a fierce competition. Companies who can combine the technology with the market, those companies will win the game."