China’s first commercial rocket company established in Wuhan

Source: hubei.gov.cn 04/21/2016 11:04:25

Kuaizhou solid-fuel rocket developed by Sanjiang Group (photo by Meng Rui)

46 years after the successful launch of China’s first satellite “Dong Fang Hong I”, China’s space technology enters “commercial era”.

CASIC Rocket Technology Co., Ltd was registered and established on Feb.16 in Wuhan, capital of central China’s Hubei province, according to Wuhan-based CASIC Sanjiang Group on April 20, 2016.

With a registered capital of 300 million yuan, this is the first professional rocket company in China, which is dedicated to providing commercial launches for domestic and international clients.

At present, Sanjiang Group is one of the only three units which have the ability to develop and launch rockets in China. “We will strive to realize the first launch of the company within 2016”, said Hu Xiaotao, general manager of the rocket company.

“Commercial space industry is of great business value,” said Gao Hongwei, president of CASIC on Chinese Commercial Aerospace Forum held in Wuhan in 2015, “one dollar’s input in commercial space industry can generate seven to fourteen dollars’ return.”

Hubei has listed aerospace industry as a key strategic emerging industry in the “13th Five Year Plan”, a Wuhan national aerospace industry base is under construction. As the first enterprise to settle in the base, CASIC Rocket Technology Co., Ltd will drive the development of industry clusters such as ground system and spatial information application in Hubei.

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(hubei.gov.cn by Mao Huifang)