Chinese companies working on reusable commercial rockets just got a major boost. The Shanghai Stock Exchange announced on Friday that these firms will enjoy a fast-track process to list on the STAR market, which is known for its focus on tech innovators. What’s more, they won’t need to meet tough financial requirements—this new route waives profitability and revenue thresholds. Instead, eligible companies only need to hit key technological milestones, like pulling off a successful orbital launch with reusable rocket technology.
China is looking to close the gap with the United States, which currently leads the world in launching, recovering, and reusing rocket boosters. SpaceX, led by billionaire Elon Musk, is the only player with rockets like the Falcon 9 regularly retrieving first stages after launch and putting satellites into orbit. This monopoly has Beijing worried and eager to catch up.
Earlier this month, LandSpace, China’s leading private rocket company, made headlines by testing its Zhuque-3 model—the first domestically built rocket to attempt a full reusable test. Although LandSpace didn’t recover the booster this time, the successful launch shows how China is stepping up its efforts to rival SpaceX. Many state-owned and private Chinese players are now scrambling to conduct similar launches with their own reusable rockets.
LandSpace plans to try again in mid-2026, aiming for its first successful rocket recovery with a second launch of Zhuque-3. The company has emphasized that developing rockets is expensive, and tapping into China’s capital markets will be key if it wants to compete on a global stage.
Interestingly, the Shanghai exchange’s rules don’t actually demand a full booster recovery—rocket firms simply need to use reusable technology to orbit a satellite. LandSpace has already checked that box with its latest test.
As China pushes forward, the rush to challenge SpaceX’s dominance in reusable rockets is clearly accelerating—and now, with these relaxed listing rules, the race looks more intense than ever.
