China’s private rocket makers are stepping up their dash for public funding, with Beijing-based LandSpace becoming the first commercial launch provider to clear a key regulatory “tutoring” milestone ahead of a planned listing on Shanghai’s Nasdaq-style Star Market.
LandSpace completed its initial public offering (IPO) tutoring process on December 23, according to information published on the website of the China Securities Regulatory Commission (CSRC) – a step that typically precedes the submission of a formal listing application.
The company is positioning itself as a domestic contender in reusable launch technology, a field dominated by SpaceX.
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Investor interest in the sector has also been stirred by reports that Elon Musk’s company is weighing a public offering in 2026 and is targeting a valuation as high as US$1.5 trillion – a figure that, if achieved, would eclipse the world’s largest listings to date.
LandSpace is among roughly 10 Chinese commercial aerospace firms that have moved towards capital markets this year, as the industry tries to secure the deep pools of funding needed for repeated test flights, manufacturing scale-up and eventual reusability.
Several peers – including Galactic Energy, Space Pioneer, i-Space and CAS Space – have filed for IPO tutoring with mainland regulators as they prepare for potential A-share listings, while others have opted for Hong Kong: Adaspace Technology and Fortunetone Technology had submitted applications to the Hong Kong stock exchange.
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