Nansha releases policy to support commercial aerospace industry

Nansha's "nine measures to explore the sky" was released to help the development of its commercial aerospace industry on Aug 30.

On the same day, the 8th Annual Conference of International Investment, Guangzhou, China (Nansha Session) awarded licenses to eight investment ambassadors and unicorn enterprises that have made outstanding contributions to the high-quality development of Nansha industries. 

From the initial financing of enterprises to the development of spacecrafts to the pre-launch preparations to get spacecrafts into orbit, the policy covers the entire life cycle of commercial aerospace companies, providing them with strong support.

The policy states that for investment institutions that introduce commercial aerospace companies, a maximum of 10 million yuan ($1.45 million) will be rewarded, while a maximum of 100 million yuan will be given based on 20 percent of the R&D expenses of commercial aerospace companies. 

In addition, 50 percent of the launch insurance costs will be subsidized, while 1 million yuan and 500,000 yuan will be awarded for each launch of a rocket or a satellite respectively.

Nansha is forming a commercial aerospace industry chain layout integrating launches, satellite development, and aerospace applications.