Galactic Energy's Ceres-1 launch vehicle on the ground firing test for the third-stage engine Photo: Courtersty of Galactic Energy

China's leading private space enterprise is planning to complete an international satellite launch in 2022, which will be the first international space launch done by a Chinese private space company. 

Galactic Energy, the private-owned company, signed a strategic cooperation agreement with China Volant Industry Co (VOLINCO) on Thursday in Beijing to jointly develop the international market for the Ceres-1 rocket, aiming to complete Chinese domestic private firm's first international space launch in 2022.

The strategic cooperation agreement will provide support for both the Galactic Energy and VOLINCO to jointly develop the international launch service market and provide better commercial launch services to global users.

Commercial space endeavors made up 79 percent of the space economy, according to the annual report 2019 released by Space Foundation. China's share in the global rocket launch market has increased to 15 percent over recent decades, which has formed a better international launch service capability in China. 

The Ceres-1 rocket is the first solid-propellant launch vehicle developed by Galactic Energy, and is the main carrier rocket for narrow-band Internet of Things (IoT) network construction.

Global Times