Move over, SpaceX.
LinkSpace, China's first private rocket company, successfully launched its independently developed reusable rocket on Saturday morning in Northwest China's Qinghai Province, according to the Global Times.
The rocket is 8.1 meters long and flew to a designated height of 300 meters before safely landing with an accuracy of 7 centimeters in 50 second. Wan Mei, vice president of LinkSpace, said:
"This is a new milestone in China's reusable rocket research."
The company said that the rocket can be used multiple times and has a low test cost and capability of rapid iteration. The launch also "successfully tested several other key technologies for reusable rockets, including new ignition and launching technology, and technology of parallel connection of multiple engines."
On the same day, the company announced a new project for a 14 meter long rocket that can be launched more than 100 times per year after the technology is perfected.
LinkSpace launched its first rocket in October 2018, which carried a small satellite for a state media group. Since 2014, the Chinese government has actively encouraged private businesses to tackle the space industry. There are now more than 60 private companies in the space industry in China.
Video of the rocket landing can be seen here:
China's private rocket company LinkSpace successfully launched a reusable rocket from Northwest China’s Qinghai Province on Saturday morning. The RLV-T5 rocket flew to a designated height of 300 meters and then safely landed with a landing accuracy of 7 centimeters in 50 seconds. pic.twitter.com/q0XtQS82HF— Global Times (@globaltimesnews) August 10, 2019