China launches first rocket designed by a private company

China launches first rocket designed by a private company

Reuters  | May 17, 2018 06:10

China launches first rocket designed by a private company

BEIJING (Reuters) - China launched its first privately developed rocket from a launchpad in northwestern China on Thursday, state media said, the latest milestone in the country's ambitious space exploration programme.

Since coming to office in 2012, Chinese President Xi Jinping has made becoming a "space flight superpower" a top priority for the Chinese government, which has a goal of sending a permanent manned space station into orbit by around 2022.

The launch of the "Chongqing Liangjiang Star" rocket, developed by OneSpace Technology, a Beijing-based private firm, marks the first time a non-state Chinese rocket has successfully entered orbit, the official Xinhua news agency said.

The rocket is powered by a solid fuel engine developed by OneSpace and its control systems are customisable in accordance with user demand, the company's chairman, Ma Chao, told Xinhua.

Also known as the OS-XO, the craft can place a 100-kilogram load into orbit 800 kilometres from the earth, according to state media.

The rocket uses energy-saving technology, such as wireless communications instead of wired internet that by cutting weight has helped lower fuel costs by about 30 percent, Xinhua said.

Founded in 2015, OneSpace is the result of a government effort to foster China's commercial space flight and encourage private participation in the sector, according to state media.

The company expects 10 missions for carrier rockets in 2019, founder Shu Chang told the official China Daily last week.

"I hope we can become one of the biggest small-satellite launchers in the world," Shu said.

Last year, the company signed a deal with the state-run Chongqing Liangjiang Aviation Industry Investment Group to build a joint research and manufacturing base in the southwestern city of Chongqing.

The base's strategic location as part of China's Belt and Road initiative, a key foreign policy initiative by Xi that aims to develop trade links between China and Eurasia, will provide a large export market for OneSpace, Shu told China Daily.

"We will develop bigger rockets in the future and participate in the global competition," Shu said.

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Discussion
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (India) English (Canada) English (Australia) English (South Africa) English (Philippines) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Polski Português (Portugal) Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 中文 香港 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes

+