Storyline: Chinese private rocket maker defies the odds through innovation [Voice_over] China's private space industry is taking off. Galactic Energy, a 7-year-old commercial rocket company, has secured its foothold in the market with breakthroughs in low-cost launch solutions. The firm has already completed 19 successful launches, deploying 81 satellites for 25 clients, and setting a record as China's first private company to achieve consecutive launch successes. By applying 3D printing technology, the firm has slashed the time it takes to manufacture a rocket engine from six months to just one, and have slashed costs by 90 percent. [Sound_bite] Liu Baiqi, CEO, Galactic Energy: "Now, by adopting a 3D printing solution, we've shortened the production cycle to less than one month, and the cost is only around 800 or 1000 U.S. dollars, nearly one-tenth of the original cost. The weight is also reduced by half." [Voice_over] And when it comes to design, the company's breakthrough four-stage integrated rocket eliminates unnecessary structural weight, which maximizes payload efficiency, and once again, reduces costs. [Sound_bite] Liu Baiqi, CEO, Galactic Energy: "By removing sections from this structure, we reduced its weight by 75 kilograms. That means an extra 75 kilograms of payload capacity. At a typical rate of about 14,000 U.S. dollars per kilogram, the extra 75 kilograms payload adds about one million U.S. dollars per launch " [Voice_over] Galactic Energy currently flies its CERES-1 carrier rockets and is developing the CERES-2, which is expected to conduct its first flight in late August. [Restrictions : No access Chinese mainland]