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Dec 29
China eases IPO rules for reusable rocket firms to speed space ambitions
China has eased listing requirements for private companies developing reusable commercial rockets, shifting regulatory scrutiny away from short-term financial performance and toward technological milestones, as Beijing steps up efforts to close the gap with the United States in launch capabilities and low-Earth-orbit satellites.
The global aerospace and satellite industry did not experience a single, earthshaking breakthrough in 2025. Instead, it advanced through a series of consequential developments—subtle in isolation, but collectively transformative. The year marked steady progress across multiple fronts. The race in low-Earth-orbit (LEO) communications intensified. Space militarization accelerated. Early experiments in orbital computing emerged. Together, these shifts pushed the industry toward a more crowded, contested, and commercially driven space economy.
The global space industry is accelerating toward commercialization. But recent developments in South Korea and China underscore how difficult—and uneven—that transition remains. In separate incidents late last year, South Korea's startup Innospace failed to place its launch vehicle into orbit. Meanwhile, China's new Long March 12A rocket fell short of recovering its first-stage booster on its maiden flight.
Microcontroller (MCU) maker ENE Technology has officially entered the drone industry, partnering with Taiwan's HY Tech, Aeroprobing, and Egis to integrate communications, vision modules, and AI image processing and computing technologies. The company also established a new business unit staffed with drone experts to compete in the customized drone IC market.
Yao Sheng Electronic said it has secured a major printed circuit board assembly order from a US drone startup, underscoring progress in the Taiwanese manufacturer's push to move beyond lower-margin businesses and deepen its exposure to AI, semiconductor, and medical markets.

China has maintained a clear lead over the US in drone-related technology patents since 2016, highlighting a widening technology gap as Taiwan seeks to expand its domestic drone industry and reduce reliance on China-centric supply chains. The divergence underscores the scale of the challenge facing Taiwan at a time when governments worldwide are accelerating procurement of unmanned systems and reassessing supply chain security.

Unmanned aircraft are becoming central to modern military operations, driving a surge in government procurement that is reshaping Taiwan's drone industry. The US, Japan, and Taiwan have all announced large-scale drone purchases. But the rapid expansion is straining supply chains, production capacity, and delivery timelines. Industry executives say closer coordination and clearer division of labor across suppliers will be critical for companies seeking to secure contracts and scale output.

The Federal Communications Commission (FCC) will block the sale of foreign-made drones in the US, a decision believed to target Chinese market leader DJI and could prompt Taiwanese suppliers to accelerate investment in US manufacturing.

Japan's flagship heavy-lift rocket, the H3, suffered another setback on Sunday after its eighth flight failed, dealing a blow to the country's ambitions to strengthen its independent space capabilities.

As privately owned rocket and satellite manufacturers in the United States continue to surge, China has been accelerating its own commercial space ambitions. Beyond its extensive low-Earth-orbit satellite deployment plans, the privately held Chinese launch company LandSpace Technology achieved a milestone on December 3, 2025, when its Zhuque-3 rocket completed a successful maiden flight.

SpaceX is widely expected to pursue an initial public offering in mid to late 2026. In anticipation, investors have increasingly tied the company's long-term growth story to the idea of orbital—or space-based—data centers, making the concept one of the most closely watched themes in capital markets.

South Korea's privately led rocket program, NURI (KSLV-II), completed its fourth successful launch on November 17, reaching an altitude of 601.3 kilometers and entering orbit—a milestone that has sharpened debate in Taiwan over its own ambitions in space.