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financial associated press, september 26 (reporter wang xiaobang fang yanbo)the commercialization of china’s aerospace industry shows new signs of “acceleration”.

two new companies with chinese prefixes - china aerospace science and technology group commercial satellite co., ltd. (hereinafter referred to as "aerospace science and technology commercial satellite company") and china aerospace science and technology group commercial rocket co., ltd. (hereinafter referred to as "aerospace science and technology commercial rocket company"). they were established on september 22 and september 26, respectively, with registered capitals reaching 1.2 billion yuan and 1 billion yuan respectively.

"the establishment of the two new companies will accelerate the construction process of my country's satellite internet." an insider told a reporter from the associated press.

equity penetration of qichacha shows that the aerospace science and technology commercial satellite company is composed of china aerospace science and technology corporation (51% of the shares), beijing satellite manufacturing factory co., ltd. (39.5% of the shares), shanghai aerospace equipment manufacturing general co., ltd. (39.5% of the shares), 8.5% of the shares), china academy of space technology (0.5% of the shares), and shanghai aerospace technology research institute (0.5% of the shares) jointly hold shares.

the aerospace science and technology commercial rocket company consists of china aerospace science and technology group co., ltd., china academy of launch vehicle technology, china great wall industry group co., ltd., shanghai institute of aerospace technology, shanghai guosheng (group) co., ltd., shanghai lianhe investment co., ltd., xi'an aerospace science and technology industry co., ltd. and others jointly hold shares.

"commercial aerospace" was included in the government work report for the first time this year, positioning it as a "new growth engine" and a representative field of new productivity. the establishment of two new companies can be regarded as the latest response to the national call.

judging from the company name and business scope, aerospace science and technology commercial satellite company focuses on satellite development-related businesses, while aerospace science and technology commercial rocket company focuses on rocket development-related businesses.

on august 6 this year, the low-orbit satellite communication system "qianfan constellation" launched the first batch of 18 satellites, marking that china's commercial aerospace industry represented by satellite internet has entered a new stage of development.

public information shows that the construction of the "thousand sails constellation" will be carried out in three steps: by the end of 2025, 648 satellites will provide regional network coverage; by 2027, the same number of satellites will achieve global network coverage; finally, by the end of 2030, the constellation will it will have 15,000 satellites to realize multi-service integration services directly connected to mobile phones, covering the world.

the acceleration of constellation construction depends on the increase in the density of space launch missions. according to the "blue book of china's aerospace science and technology activities (2023)", china's aerospace industry is expected to carry out about 100 launch missions in 2024, an increase of 49% from 67 in 2023, and is expected to break the single-year launch record.