一日两策，商业航天何以重要？

Core Viewpoint - The article highlights the recent favorable policies for the commercial aerospace sector in China, emphasizing the dual support from government initiatives and capital markets to accelerate the industry's development [2][5]. Group 1: National Venture Capital Fund - The National Development and Reform Commission and the Ministry of Finance have launched policies for the National Venture Capital Fund, focusing on key economic regions such as Beijing-Tianjin-Hebei, the Yangtze River Delta, and the Guangdong-Hong Kong-Macau Greater Bay Area [3]. - The fund aims to support cutting-edge industries, including integrated circuits, artificial intelligence, biomanufacturing, future energy, and explicitly includes commercial aerospace, highlighting its core position in the national hard technology industry layout [3]. Group 2: Special Implementation Guidelines for the Sci-Tech Innovation Board - The introduction of special guidelines for the Sci-Tech Innovation Board provides a "green channel" for commercial aerospace companies to access the capital market [4]. - These guidelines are the first to focus on a single industry since the reactivation of the fifth set of listing standards, which previously included support for artificial intelligence, low-altitude economy, and commercial aerospace [4]. Group 3: Current Industry Development and Market Dynamics - The commercial aerospace sector is at a critical development juncture, with simultaneous support from policies and capital markets being timely [5]. - Leading companies in the sector, such as Tianbing Technology, Blue Arrow Aerospace, and Xinghe Power, are in the IPO guidance phase, and the new guidelines will provide clear policy direction to expedite their market entry [5]. - The domestic commercial aerospace industry is transitioning from technological breakthroughs to commercial service, paralleling the semiconductor industry's trajectory from 2020 to 2024, where the Sci-Tech Innovation Board provided significant capital support [5]. Group 4: Strategic Importance of Commercial Aerospace - The recent "14th Five-Year Plan" has incorporated commercial aerospace into the top-level design, establishing the goal of building a "strong aerospace nation," indicating its elevation to a national strategic level [6]. - As a strategic industry that integrates cutting-edge technology, large market scale, and extensive industrial chains, commercial aerospace is expected to become a significant industrial cluster supporting national economic development, akin to shipbuilding, mobile phones, and automobiles [6].