Qi Cha Cha·2025-11-24 06:32Core Insights - The establishment of the Commercial Space Administration has been officially announced, with the recruitment for the "Aerospace Regulation Position" indicating its formal inception [1] - The first flight of China's reusable rocket "Zhuque-3" is scheduled for mid-November, potentially marking the country's first operational reusable launch vehicle [1] Company and Industry Overview - As of November 24, there are over 90,000 existing commercial space-related enterprises in China, with nearly 60% established in the last three years [9] - In 2025 alone, 22,200 commercial space-related companies have been registered, surpassing the total registrations for the previous year and reflecting a 58.3% increase compared to the same period in 2024 [1][7] - The majority of new registrations are concentrated in the East China region, accounting for 23.8%, followed by North China at 19.4% and South China at 18.2%, while Northeast China has the least at 3.7% [7]