Fast-Track IPOs for Rocket Companies
China will allow companies developing reusable rockets to take a fast lane for initial public offerings on the STAR market. The Shanghai Stock Exchange stated that these firms can bypass certain financial requirements, such as minimum revenue or profitability. Instead, they must reach key technological milestones, including at least one orbital launch using reusable rocket technology.
China Aims to Catch Up with SpaceX
Beijing is trying to close the gap with the United States, which currently dominates reusable rocket technology. Elon Musk’s SpaceX regularly launches and reuses its Falcon 9 booster, giving it a near monopoly in this field.
LandSpace Leads the Way
Earlier this month, China’s private rocket company LandSpace carried out a full test launch of its Zhuque-3 reusable rocket. Although it did not recover the booster, the launch successfully reached orbit. LandSpace plans a second launch in mid-2026, aiming for a successful booster recovery.
Strategic Support for Key Projects
The new rules also give priority to companies involved in national missions or major state-led space projects. Authorities want to align commercial launches with China’s broader space goals, including building a massive satellite constellation.
Access to Capital is Crucial
Rocket development is capital-intensive. Chinese firms like LandSpace need access to the stock market to compete with SpaceX. The new STAR market fast-track makes that possible, supporting China’s push for technological independence in space.
