Reusability Takes Center Stage in China’s New Rocket IPO Rules

The Shanghai Stock Exchange has rolled out stringent new listing rules for commercial rocket startups seeking to debut on the STAR Market, requiring them to prove they’ve successfully launched a payload into orbit aboard a medium-to-large reusable rocket.

Released Friday, the updated guidelines clarify how capital-intensive aerospace firms can tap public funding even if they’re still operating in the red. The rules fall under the tech-focused board’s fifth listing standard, which targets companies with strong technological capabilities but limited or no profit history.