Beijing E-Town Industry Upgrading Equity Investment Fund made its first investment in the commercial aerospace industry. 

The fund's first project was invested in Landspace, an enterprise within Beijing E-Town, injecting vitality into the development of commercial aerospace industry. 

This April, the Industry Upgrading Fund was established as a specialized sub-fund of the Guidance Fund. 

It provides direct equity investment in significant projects that are crucial to Beijing E-Town's economic development and industrial promotion. 

According to the Beijing E-Town Financial Audit Bureau, the initial size of the Industry Upgrading Fund is 2.001 billion yuan ($284.97 million).

Landspace, established in June 2015 and registered in Beijing E-Town, is one of the earliest private rocket companies in China. 

The company has a complete team of technical experts and leading technological routes. Its liquid oxygen methane carrier rockets have a first-mover advantage in China, contributing to the development of the national commercial aerospace industry. 

The Industry Upgrading Fund will further support innovation and facilitate the development of the company. Landscape plans to conduct a flight test of the ZhuQue-2 Y-2 rocket in mid-to-late June at the Jiuquan Satellite Launch Center. Once successfully launched, it will become the first liquid oxygen methane rocket to achieve orbit globally.

To date, Beijing E-Town has gathered more than 40 aerospace enterprises, covering various fields including carrier rockets, satellite development, satellite applications, and model support.