n May 17, One Space, a leading private Chinese aerospace technology company based in Chongqing, successfully launched a commercial rocket, China’s first private rocket.
According to media reports, the rocket, nine meters long and weighing 7,200 kilograms, can reach an altitude of 38.7 kilometers at a maximum velocity of 5.7 times the speed of sound. The rocket was designed to be used in trial launches of hypersonic aircraft.
Since China allowed private investors to enter the aerospace field in 2015, One Space has received billions in investment and it can produce and launch 40 rockets every year. Media reports said the company has developed many advanced technologies to reduce the cost of building a rocket, the key to the success of private aerospace ventures.