"We have set up the Hainan International Space Company, which aims to carry out regular commercial launches starting in the first half of 2024," HICN quotes Liu Chun, head of the managing body of Wenchang International Aerospace City, as saying. He also noted that work is currently underway to commission a commercial launch vehicle assembly plant by the end of 2023 and to launch a similar satellite assembly facility by the end of 2022.
The aerospace city's management is implementing a project to create three zones: a space launch, high technology and a tourism zone. Particular attention is paid to the development of industrial chains related to rocket and satellite construction in order to turn the International Aerospace City into an open, integrated and innovative demonstration zone for world-class commercial space exploration. To that end, there are also plans to create hubs for scientific and technological innovation, space industry and international cooperation.
According to official data, Wenchang International Aerospace City, which is the core of an aerospace industry cluster, has registered 23 enterprises, signed agreements with 19 science and technology platforms and various corporate projects. The total revenue of enterprises of this aerospace cluster in 2021 was almost 2.8 billion yuan ($417.9 million), 15 times higher than in 2020.