HEFEI – A new roadmap for humanity’s next economic frontier emerged this week as China’s space experts outlined ambitious plans to transform deep space exploration into a trillion-dollar economy by 2040. At the third International Deep Space Exploration Conference in Hefei, Anhui Province, engineers and scientists revealed how asteroid mining, space tourism, and off-world infrastructure could reshape global markets.
Shi Pingyan, chief engineer of China’s Deep Space Exploration Lab, presented a groundbreaking report identifying ten key sectors – from extraterrestrial energy production to space-based cultural industries – that could drive what analysts are calling 'the second space race.' The projections come as China transitions from pure scientific research to what Shi describes as 'economic empowerment through cosmic resource utilization.'
'We’re witnessing the birth of new quality productive forces,' Shi told delegates, emphasizing how space-derived technologies could revolutionize terrestrial industries. The lab’s analysis suggests space-based solar power alone could address Earth’s energy crises while creating orbital manufacturing ecosystems.
The conference, focused on near-Earth asteroids, highlighted practical applications including planetary defense systems and mineral extraction techniques. International collaboration emerged as a recurring theme, with multiple speakers stressing the need for shared protocols in space resource management.
While technical challenges remain, the economic vision is clear: a future where lunar hotels complement asteroid mining operations, and space internet constellations enable real-time data flows across the solar system. As governments and private entities align strategies, the deep space economy appears poised to redefine 21st-century globalization.
