CHINA plans to list a rocket company on the A-share market in a pilot scheme to raise funds for the industry, a senior official said.
China Aerospace Science and Technology Corp plans to set up a rocket-production shareholding company this year to trade on the stock market, said Liang Xiaohong, deputy director of the China Academy of Launch Vehicle Technology, yesterday in Beijing.
It is in accordance with the country's plan to encourage group listings among military enterprises.
But as China Aerospace is not suitable for a group listing at the moment, it will first establish a shareholding company, said Liang.
The company will develop the rocket production base in the northern city of Tianjin and will conduct rocket design, production and testing. "Funds from the capital market can accelerate the industry's development and the benefits will be mutual," said Liang.
China Aerospace currently has four units listed on the mainland market and two in Hong Kong, none of which are involved in rocket production. The nation is gearing up for the Shenzhou VII space walk mission scheduled for late September and early October.
The space walk is seen as crucial to establishing a big space laboratory or station, and will also release a small inspection satellite. China has sent three people into space orbit since 2003.