Private firm in Beijing makes history after successful mission

Xing Qiang, founder of Micro-Rocket Union, a nonprofit space research organization in Beijing, said the SQX-1 mission will become a symbol of the Chinese private space sector's technological capability and determination, and will also boost investor confidence in this business.

"In the near future, privately built carrier rockets will play a major role in the construction of low-orbit satellite systems and space-based internet-of-things networks," Xing said. "In addition, the rapid growth of the space-based technology demonstration business will require a great deal of launch services by these rockets."

Lan Tianyi, founder of Ultimate Blue Nebula, a private aerospace consultancy, said the success will help other private rocket makers boost their confidence and will bring more public attention to the industry.

By the end of 2018, there had been 123 private enterprises on the Chinese mainland that registered in the space industry, and 14 of them were focused on rocket development and production, according to a recent report by FutureAerospace, a space industry consultancy in Beijing.