Private launch firm: 'We will never flinch or quit'

China's private rocket launch sector has been striving to expand its presence in the nation's burgeoning commercial space market despite recent setbacks.

Shu Chang, CEO of OneSpace Technology, a space-focused startup based in Beijing, said his company is determined to continue with its research and development of carrier rockets and will also continue fulfilling launch schedules this year.

OneSpace encountered a major setback on Wednesday as the company's first attempt to launch a carrier rocket for an orbital mission failed because of technical problems.