China on Friday launched a rocket developed by a local private company from a launch center in northwest China, marking the second successful launch by this company.

"Chongqing Liangjiang Star (OS-X1)," launched at 12:10 a.m., was developed by OneSpace, a Beijing-based private company with a manufacturing base in southwest China's Chongqing Municipality.

The company has two rocket series, the OS-X and the OS-M. The former offers aerospace services for scientific research while the later will be used to launch small satellites.

"Our focus is on the small satellite market," said Shu Chang, founder and CEO of OneSpace, adding that many countries have a demand for satellite launches, but few are capable of making rockets.

"Commercial rockets are relatively more efficient and cheaper; we see great potential," added Shu.

[With inputs from Xinhua News Agency]