By the end of 2018 China was home to 141 commercial space companies, 123 (87.2 percent) of which are private, news outlet The Paper reported Tuesday.

Of the 141 companies, 36 are commercial satellite manufacturing makers, 22 are launching firms, and 44 are satellite application firms, while 61 (43.3 percent) have been founded within the last three years.

Most of the companies are based in Beijing and Shaanxi province, with more than half in Beijing.

Investment and financing in the space last year reached 3.57 billion yuan, focused primarily on satellite applications and launching areas, which drew 1.97 billion yuan and 1.15 billion yuan, said The Paper, quoting a research institution.

At least 36 investing and financing deals were agreed in 2018, with one third of the deals involving angel and seed-round interments.

Among the 36 deals, 29 were in Beijing and three were in Hubei province, with the remainder coming in Hunan, Sichuan, Shaanxi and Guangdong provinces.

China in 2018 recorded 39 orbital launches involving 105 spacecraft, 13 of which were commercial ventures with 36 combined satellites.

China has launched more than 20 satellite constellation plans, 14 of which were initiated by private firms.

According to public data, China will send 3,100 commercial satellites to space by 2025, and the commercial satellite market will reach 13.6 billion yuan, while the commercial launching market is expected to reach 17 billion yuan.