HELSINKI — Beijing’s municipal government has released an action plan to foster an innovative commercial space ecosystem in the city over the next five years.
The Beijing Action Plan for Accelerating the Innovation and Development of the Commercial Space Industry (2024-2028) includes 18 policy measures.
The action plan focuses on mapping the commercial aerospace industry chain and supporting cutting-edge research and development. It includes enhancing development guarantees, and fostering a high-quality industrial ecosystem.
It will also promote cross-border technology integration to foster the development of internationally competitive innovative enterprises and industry clusters.
Initiatives include establishing “Beijing Rocket Street,” including a reusable rocket technology innovation center to assist breakthroughs in related key technologies. Construction of the facility will begin in April and be completed in 2025.
Measurable goals include attracting and nurturing more than 100 high-tech enterprises, over 50 specialized and innovative companies, and at least five so-called unicorn companies. The latter refers to a company with a valuation of at least $1 billion.
The action plan was announced at the Conference on the High-Quality Development of Beijing’s Commercial Space Industry Feb. 3.
Beijing Economic and Technological Development Area, situated in Yizhuang, in the southeast of the city, already hosts more than 70 percent of China’s commercial launch companies, according to China News Service.
By 2028, Yizhuang aims to be a leader in reusable rocket technology. It also wants to develop a commercial aerospace industry cluster worth 50 billion yuan ($7 billion).
Beijing also signed strategic cooperation agreements with companies representing the newly-developed Hainan Commercial Launch Site and Haiyang spaceport in Shandong province. The latter facilitates China’s sea launches. The moves are to help assure…
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