Over the past decade, China's aerospace industry has spread from the Gobi Desert to tropical islands and urban centers, forming an increasingly commercialized closed-loop system incorporating rocket making, satellite production, launch services and data application. Among these cities, Beijing, with more than half of the country's space institutes and experts, as well as abundant venture capital, has become the nerve center. Wenchang International Aerospace City, the launch center in Hainan Province, has attracted more than 700 space enterprises. In Xi'an, Shaanxi Province, a complete industrial chain from rocket engine and satellite manufacturing to scenario testing and data application has taken shape. In Shanghai, the commercial industrial scale is expected to hit 100 billion yuan (US$14.7b) in 2027. From 2015 to 2024, the industry's compound annual growth rate in terms of market size increased by about 22 percent. However, experts warned the continued growth of the industry should not depend on duplicated development.
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