Huayi-1 suborbital rocket makes debut flight

"This platform helps to satisfy the increasing needs of running science experiments in space, which has become a commercialized and regular activity today," said Hu Xin, CTO of Cosats.

He said such satellites can also enable young students to design and realize their own space experiments.

Private companies are eager to seize business opportunities in the nation's burgeoning commercial space market.

Two private rocket builders – i-Space and Galactic Energy, both in Beijing – have used their rockets to deploy satellites in orbit while others are moving relentlessly toward the goal. Meanwhile, a number of private enterprises have designed and manufactured their own satellites and even have started establishing satellite network.