China Rocket Startups: Bringing outer space within easy reach

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02:08

A number of Chinese startups are racing to go where no man has gone before by developing rockets and commercializing outer space technology. Our own Guan Xin takes us to one of those startups in Beijing.

The Chinese startup Ispace has successfully sent two independently developed rockets into space since the company was founded in 2016. Ispace plans to send a bigger rocket into orbit this summer.

YAO BOWEN, ASSISTANT PRESIDENT ISPACE "From our current estimate, the successful rate of the upcoming rocket launch in June is above 90 percent."

Yao Bowen is assistant president of the company. Yao says that Ispace aims to make rocket launches more reliable and more affordable for the public.

YAO BOWEN, ASSISTANT PRESIDENT ISPACE "Now the market price per kilogram is maybe 20 thousand U.S. dollars for now. In the future, we want to price as low as possible. Maybe the half, maybe the quarter."

The company has raised about 700 million yuan in a series of fundings. Yao says the outlook is promising with big demand in the future, especially for low-cost micro-satellites with commercial applications. But first things first, reliability. China's rocket sector has been rattled recently as two rockets launched by private firms have failed in the past five months.

YAO BOWEN, ASSISTANT PRESIDENT ISPACE "We just want to make our rockets more reliable. The success rate to go more and more to 100%. That is our aim, destination. I think it is the destination for all rocket enterprises."

The number of private rocket startups in China has increased rapidly in the past 3 years. The sector is still in its infancy but investors are racing to participate in its commercialization, hoping to bring outer space within easy reach for everyone.

GX, CGTN.