China Ping An Releases Industry's First Commercial Space Comprehensive Financial Solution

China Economic Journalists Chen Jingjing Beijing Report

Recently, a reporter from China Business Journal learned from Ping An of China (601318.SH) that they have launched the industry’s first comprehensive financial solution combining “insurance protection + capital supply + capital promotion,” providing all-round support for the development of commercial spaceflight.

According to Ping An of China, the domestic commercial space industry is currently in a golden development period with an annual compound growth rate of over 25%. With the 2026 Government Work Report designating aerospace as a new pillar industry, the development of commercial spaceflight will accelerate further. However, the industry also faces challenges such as high R&D risks, significant capital investment, and long return cycles.

Shi Hequn, Deputy Secretary of the Party Committee and Director of the Group Business Unit of Ping An Property & Casualty Insurance, stated that Ping An will use the comprehensive financial solution for commercial spaceflight to connect multiple institutions including property insurance, banking, and securities, creating a “one-entry, full-response” collaborative mechanism. This aims to address the three major pain points of commercial spaceflight: fear of failure, inability to wait, and slow growth, helping the industry achieve high-quality development.

It is reported that, to cover risks throughout the entire lifecycle of commercial spaceflight, Ping An Property & Casualty Insurance has developed insurance protection plans covering the full process from “R&D—testing—launch—in orbit.” They have built a three-dimensional risk control system of “property + liability + contract,” with coverage that comprehensively includes core risks such as launch failure, in-orbit failure, supply chain interruption, and third-party liability, precisely matching the risk protection needs of commercial space enterprises across their full lifecycle.

Notably, Ping An Property & Casualty has provided risk coverage for over 400 satellites including remote sensing, communication, navigation, and detection satellites, as well as more than 100 launch vehicles. They have underwritten key domestic and international space projects such as the Long March 8 Yao-2 launch vehicle and the Horus remote sensing satellite series.

In response to the capital needs of commercial space enterprises, Ping An Bank has launched customized financial services: project loans and working capital loans to match the funding needs of rocket launches and satellite networking; financial services related to employee stock ownership to help stabilize core technical teams; and M&A loans and supply chain finance to support enterprise scaling, providing full-cycle funding support.

For the capital demands of commercial space enterprises from R&D to large-scale development, Ping An Securities leverages its professional investment banking capabilities to build a multi-layered capital service system including equity, bonds, and asset securitization, covering the entire enterprise development cycle such as STAR Market IPO guidance, refinancing, and mergers and acquisitions, with tailored “one enterprise, one policy” services.

Ping An of China stated that the company will continue to iterate its comprehensive financial service system for the entire lifecycle of commercial spaceflight. Based on the practice of localized services in Shanghai, they will gradually expand this service model to more commercial space industry clusters across the country, providing “worry-free, time-saving, and cost-effective” financial services to support China’s advancement as a space power.

(Editors: Li Hui; Review: He Shasha; Proofreading: Yan Jingning)