China plans to increase its share in the global commercial space launch market to 15 percent by 2020 from 3 percent at present.

The China Academy of Launch Vehicle Technology will explore new business models of in-orbit delivery and space-and-ground integration, Liang Xiaohong, the academy's deputy head, told Xinhua News Agency.

The academy is working to establish strategic alliances with other major launch service providers in the world, and set up strategic cooperation relations with major satellite manufacturers, he said. The academy is also striving to set up a management system in line with the market and international standards.

The cost advantage of Chinese rockets is not as prominent as before due to the rise of the Japanese and Indian aerospace industries and private aerospace enterprises from the United States and Europe, he said.

The China Academy of Launch Vehicle Technology is the premier space launch vehicle manufacturer in China and one of the major launch service providers in the world.