China's first commercial spacecraft launch site ready

Xinhua | Updated: 2024-07-01 13:21

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An aerial drone photo taken on June 30, 2024 shows a view of the commercial spacecraft launch site in South China's Hainan province. [Photo/Xinhua]

According to the 2023 China aerospace science and technology blue book, the country completed 26 commercial launches in 2023, accounting for 39 percent of its total number of launches.

China's commercial space market has maintained rapid growth since 2015, with an average annual growth rate of more than 20 percent from 2017 to 2024. It is estimated that its market value will be about 2.34 trillion yuan by 2024.

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