Nowhere is the tension between China’s new space-focused regulatory caution and industrial ambition more evident than at LandSpace. As the company pushes toward a landmark IPO on the STAR Market with a 22-billion-yuan valuation, it is currently in a high-stakes refinement phase for its Zhuque-3 reusable rocket. Following the December 2025 maiden flight, where the second stage reached orbit but the first-stage recovery ended in a “hard landing”, LandSpace has spent the early months of 2026 optimizing its landing procedures to meet the CNSA’s heightened safety standards. With another critical recovery test scheduled for the second quarter of 2026, LandSpace…
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