Ultimately, OneSpace hopes to become a go-to option for launching small satellites into orbit, with 10 launches due in 2019. A rival, i-Space, doesn't expect to start orbital delivery missions until 2021. While it won't carry nearly as much cargo as companies like SpaceX or Orbital ATK and is relying on non-reusable rockets, the simpler construction could lower costs for companies and government agencies that have modest needs.

The launch also signals a rapid start for commercial spaceflight in China. The nation only cleared private spaceflight in 2015, so companies haven't had much time to develop their own rockets. Even with government help, OneSpace is moving relatively quickly. It's mainly a question of whether or not these companies become truly independent of the Chinese government and launch missions that are solely intended for other businesses.