China Ping An takes the lead in launching industry-leading comprehensive financial solutions for commercial space endeavors, establishing a presence in the Yangtze River Delta industrial cluster.

On March 12, the 2026 First Shanghai Commercial Spaceflight Conference and Exhibition, jointly organized by the China Remote Sensing Application Association, Shanghai Astronautics Society, and others, was held in Shanghai, attracting over 200 core industry chain companies. Ping An Insurance, as the only invited financial institution, attended the main forum and launched the industry’s first comprehensive financial solution combining “insurance protection + funding supply + capital promotion,” providing all-round support for the development of commercial spaceflight.

Currently, China’s commercial space industry is in a golden development period with an annual compound growth rate of over 25%. With the 2026 Two Sessions 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, substantial capital investment, and long return cycles. Shi Hequn, Deputy Secretary of the Party Committee of Ping An Property & Casualty Insurance and Director of the Group Business Unit, stated that Ping An will use its comprehensive financial solutions 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.

Insurance protection strengthens the defense line, alleviating concerns about “fear of failure.” For risks across the entire lifecycle of commercial spaceflight, Ping An Property & Casualty Insurance has developed an insurance coverage plan covering the full process from “R&D, testing, launch, to on-orbit operations.” It builds a three-dimensional risk control system of “property + liability + contract,” with comprehensive coverage including launch failure, on-orbit failure, supply chain interruption, and third-party liability, precisely matching the risk protection needs throughout the full lifecycle of commercial space enterprises.

Targeted financial support resolves the “unable to wait” funding dilemma. Addressing the funding needs of commercial space companies, Ping An Bank has launched customized financial services: project loans and working capital loans to match the funding requirements for rocket launches and satellite networking; financial services related to employee stock ownership to help stabilize core technical teams; mergers and acquisitions loans, supply chain finance to support large-scale development, providing full-cycle funding support for enterprises.

Professional investment banking helps overcome the “long growth” capital challenge. For the capital needs from technological 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 M&A restructuring, and providing customized “one enterprise, one policy” services, it helps commercial space enterprises realize technological成果转化与规模化发展。

The first implementation of this solution is in the Yangtze River Delta industrial cluster area, creating an innovative localized collaborative service system. Shanghai and the Yangtze River Delta are core clusters for China’s commercial space industry. To better serve local enterprises, Ping An Property & Casualty Shanghai Branch will collaborate with Ping An Bank and Ping An Securities Shanghai Branch to establish a dedicated commercial spaceflight service team in Shanghai, developing the “localized customization + nationwide resources + full-ecosystem collaboration” three core capabilities. This will build a “full lifecycle” precise service map, quickly mobilize relevant group resources, and meet the needs of different development stages. Additionally, the service team will actively integrate into Shanghai’s “Rocket Star City” industrial plan, working with industrial parks, universities, industry associations, and local governments to jointly build a “government-bank-enterprise-research” collaborative ecosystem.

Since the 1990s, China Ping An has been deeply involved in the aerospace insurance field. Over the past 30 years, it has participated in nearly all domestic commercial space insurance projects through lead underwriting and co-insurance models. Ping An Property & Casualty has provided risk coverage for over 400 remote sensing, communication, navigation, and exploration satellites, as well as more than 100 launch vehicles, including key domestic and international projects such as the Long March 8 Yao 2 launch and the Horus remote sensing satellite series.

China Ping An states that it will continue to iterate its comprehensive financial service system for the full lifecycle of commercial spaceflight. Based on the practice of the Shanghai localized service team, it 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 space power development to a new level.