The 2025 China Media Group's Spring Festival Gala has set a new record in live viewership and interaction across China's media platforms.
By 02:00 on Wednesday, the gala reached a cumulative audience of 16.8 billion, an 18.31 percent increase from last year. Mobile viewership surged to 372 million, up 52.46 percent year on year. On domestic new media platforms, live streaming views hit over 2.13 billion by 08:00, a 26.04 percent rise. The "Vertical Screen Viewing" feature garnered 530 million views, up 25.3 percent, with 300 million users, a 16.73 percent increase from 2024. The accessible broadcast reached 58.97 million viewers.
Television ratings reached a 12-year high, securing a 78.88 percent live viewership share in the national TV market. The gala also dominated online discussions, with social media topics generating 27 billion reads and 1,136 trending topics, 57 of which topped the charts.
Featuring a mix of traditional and modern elements, this year's gala included humanoid robots, regional folk dances, comedy and magic.
CMG’s 2025 Spring Festival Gala sets record with 16.8 billion global reach
China's commercial space sector has entered a fast-growth phase as multiple publicly listed companies reported revenue rebounds in the first quarter of 2026.
Rocket and satellite prime contractors, along with core subsystem suppliers, benefited directly from the bulk procurement demand unleashed by constellation deployment, delivering both revenue and profit growth.
Upstream foundational segments including materials, specialty components, and ground-support infrastructure have led the charge in translating new orders into tangible earnings.
However, not all players in the value chain are reaping immediate rewards. Some enterprises remain locked in heavy research and development phases, focusing on future innovations rather than current profitability.
By the end of 2025, the number of commercial space enterprises in China had surpassed 600.
In 2025, the total financing amount for the entire sector reached approximately 18.6 billion yuan (about 2.75 billion U.S. dollars), up 32 percent year on year.
At the policy level, commercial space sector has been written into the Government Work Report for two consecutive years, and the 15th Five-Year Plan (2026-2030) explicitly calls for accelerating the building of China into a space power.
On the capital markets side, the STAR Composite Index, which reflects the performance of stocks on China's sci-tech innovation board, has formally included commercial space sector among its key priority sectors.
More than ten companies in the sector are already pursuing IPOs in 2026.
The valuation of China's commercial space sector has exceeded one trillion yuan.
Industry experts suggest that as the growth runway continues to open up, the capital market’s interest on the sector is shifting from early-stage concept-driven narrative toward capabilities in order acquisition, mass production, and commercialization execution.
China's commercial space firms report revenue rebounds in Q1
