China successfully launched a methane-propelled carrier rocket on July 12 at a launch facility in its northwestern Gobi Desert, marking the first orbital mission of liquid oxygen-methane carrier rocket in the world.

The rocket, named ZQ 2 - or Rosefinch 2, blasted off at 9 am at the Jiuquan Satellite Launch Center in the Inner Mongolia autonomous region and transported an experimental payload into the Earth's orbit.

The distinctive logo of Country Garden Venture Capital (CGVC) shines brightly on the rocket's fuselage. CGVC, a subsidiary of Country Garden Group, currently holds the largest share of LandSpace, a Beijing-headquartered private enterprise that designed and built the rocket.

The successful launch of ZQ 2 represents a significant breakthrough in the utilization of new, cost-effective liquid propellants for China's carrier rockets. ZQ 2 utilizes liquid oxygen and liquid methane as its propellant, with both the first and second stages powered by LandSpace’s independently developed hydraulic oxygen-methane engine.

In December 2019, CGVC made a record-breaking investment of 500 million yuan in LandSpace, marking the largest single investment in China’s commercial aerospace sector. Du Hao, the Managing Director of CGVC, stated that the investment came at a crucial moment when LandSpace achieved a breakthrough in engine technology with the successful testing of an 80-ton hydraulic oxygen-methane engine in May 2019. Country Garden Ventures recognized this milestone and made its investment in LandSpace ahead of other market players.

CGVC was established in January 2019, focusing on investments in technology, consumer goods, healthcare, and industrial chains. By now, it has invested in over 90 well-known innovative companies, including BEKE, Kuaishou, BYD Semiconductor, Chali, LandSpace, etc.

Zhou Hongru, the founding partner of CGVC, expressed, "Over the past four years, LandSpace has made remarkable progress. With this successful launch, we see the journey of China's commercial space industry taking a big step towards the deeper realms of the universe."