China Ping An Releases Comprehensive Financial Solutions for Commercial Space Industry

(Source: Economic Daily)

Reprinted from: Economic Daily

The 2026 First Shanghai Commercial Spaceflight Conference and Exhibition, jointly organized by the China Remote Sensing Application Association, Shanghai Astronautics Society, and others, was recently 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,” injecting all-around financial “momentum” into 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%. 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 break down barriers between multiple institutions such as 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.

For risks across the entire lifecycle of commercial spaceflight, Ping An Property & Casualty Insurance has developed insurance coverage covering the full process from “R&D – testing – launch – in-orbit,” establishing a “property + liability + contract” three-dimensional risk control system. The coverage 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 throughout their lifecycle.

Focusing on the funding needs of commercial space enterprises, Ping An Bank has launched customized financial services: project loans and working capital loans to meet the funding demands of rocket launches and satellite networking; financial services related to employee stock ownership to help stabilize core technical teams; mergers and acquisitions loans and supply chain finance to support scalable growth, providing full-cycle funding support for enterprises.

According to reports, China Ping An has been deeply involved in the space insurance field since the 1990s. Over the past 30 years, it has participated in nearly all domestic commercial space insurance projects through exclusive underwriting, co-insurance, and other models. Ping An Property & Casualty Insurance has provided risk coverage for more than 400 remote sensing, communication, navigation, and exploration satellites, as well as over 100 launch vehicles, including key domestic and international projects such as the Long March 8 Y2 launch and the Horus remote sensing satellite series.

China Ping An 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, it will gradually expand these services to more commercial space industry clusters across the country, providing “peace of mind, time savings, and cost savings” for space enterprises and helping China’s space power construction reach a new level.