CHINA’S FIRST COMMERCIAL ROCKET COMPANY ESTABLISHED IN WUHAN

Date:2016/11/30   Click:    Source:wh-china.com   Original publication time:2016/04/26

46  years  after the successful launch of China’s first satellite “Dong Fang HongI”, 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 CASICSanjiang Group on April 20, 2016.

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

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

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

Hubei  has  listed aerospace industry as a key strategic emerging industry in the “13thFive Year Plan”, a Wuhan national aerospace industry base is underconstruction. As the first enterprise to settle in the base, CASIC RocketTechnology Co., Ltd will drive the development of industry clusters such asground system and spatial information application in Hubei.