Private Business in the Space Industry of China: Features, Achievements and Challenges to Development

This study aims to study the peculiarities of the functioning of private business in the Chinese space industry, identifying the main achievements of private astronautics, as well as challenges to its development. The work examines the milestones in the formation of private astronautics in China, the legal basis on which it exists; describes the institutional, managerial, scientific and technological features, as well as the corporate culture of “New Space” companies in China. Although many Western experts have expressed the view that Chinese companies have difficulty implementing their innovations, this paper shows that Chinese private space companies have significant innovative potential, although they are still largely dependent on foreign technologies, China is becoming a true world leader in the scientific and technological field. We mainly considered the official websites of private aerospace companies and media publications as sources. To assess the attractiveness of the industry, identify its trends and dynamics, a SWOT analysis was also carried out in the work. Key words: private business, innovation, space tourism, corporate culture, rocket companies.