The Beijing commercial space co-insurance consortium provided risk cover for 25 private launch projects over the past year, with total insured sums above RMB 10 bn (approx. US$1.5bn).
Data from the Beijing Financial Regulatory Administration, released on 24 Apr, also shows the average inquiry and underwriting time fell by 20% over the same period.
The consortium was formed in Beijing in March 2025 and brings together 17 property and casualty insurers, two reinsurers, and one insurance intermediary in the city. As China’s first commercial space insurance consortium, it addresses high risks in industry development and weak protection while supporting the development of the commercial space industry.
In April, the consortium, under guidance from the BFRA, also released a standardised claims manual for landing zones linked to private launches, as well as an aerospace insurance archive database. These documents aim to strengthen industry standards and frameworks in compliance and data infrastructure.
According to data from the China Aerospace Science and Technology Corporation, China’s commercial space industry reached RMB 1.01 trillion in 2025, up nearly 7% year over year. By the end of 2025, the number of commercial space enterprises in China exceeded 600, up by more than 20%.
In 2025, China conducted 50 commercial space launches, accounting for 54% of the country’s total launches. A total of 311 commercial satellites were launched, representing 84% of all satellites launched.
