Milestone Success January 2026 /

Chinese Commercial Space Raises Record ¥26.6B in 2025

Chinese commercial space companies raised ¥26.6 billion (~$3.81 billion) in 2025 across 137 funding rounds — a record for the sector and nearly double the annual average of 74 rounds from 2020-2024. Satellite manufacturers led for the first time with over ¥10 billion raised, driven by MinoSpace, Spacety, and emerging specialized manufacturers. Launch companies raised ¥8.5 billion. Sub-national government funding reached a new high at ~60% of total capital. Commercial launches made up 54% of all Chinese launches in 2025, with 311 commercial satellites reaching orbit (84% of the national total).

Why it matters

China's commercial space is entering a phase that looks like NewSpace circa 2016-2018 in the US — but compressed into 24 months. The shift from central government to regional government and private capital is a structural change, not a spike. Expect Chinese satellite manufacturers to start appearing in international contracts over the next 18 months.

Coverage

1 report

spacewatch.global ·Jan 13, 2026
Chinese Space Companies Raised Record $3.8 Billion in 2025
¥26.6B raised across 137 rounds in 2025 — a record. Satellite manufacturers led for the first time, with MinoSpace, Spacety leading. 60% from regional government capital. 311 commercial satellites reached orbit, 84% of China's national total.

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