The Development of China’s Financial Sector as a Catalyst for Growing Space Industry

The relevance of the article’s topic is determined by the current trend of searching for ways to ensure the sustainable development of national space activities and methods of financing them. Along with them, we take into account the emergence of the private space industry and the accelerated overall pace of innovation processes in high-tech sectors of the economy. The objectives of this research work is to analyse the most significant transformation stages of financial sector of the People’s Republic of China and the impact of this process on the country’s achievements in space exploration within the period over the past several decades. The principal method used by the authors is qualitative content analysis, combined with a chronological approach to data systematisation. The scientific novelty lies in the combination of several aspects into a single causal field, namely, the development of Chinese financial system, the organisational structure of its space industry, its achievements, as well as the state support measures. The results of the study suggest that one of the key factors of success in space exploration of the People’s Republic of China could be the combination of market mechanisms with strong elements of a planned economy, which allows for the effective management of investment allocation in this strategic industry. The practical significance of the research work insofar, lies in potential application of its results to provide effective instruments for the financial support of high-tech industries, including the space exploration sector. The conclusions obtained may be beneficial for specialists involved in the planning activities and in the implementation of major national projects.