China released its plan for reusable carrier rockets for the first time at the 2017 Global Space Exploration Conference on Thursday.

According to researchers at the China Aerospace Science and Industry Corporation, one of the country's major space contractors, China is developing two projects: a vertical take-off and landing system and another one using parachutes. The projects have both made significant breakthroughs and are now undergoing tests.

According to the CASIC researchers, China is developing its own reusable carrier rockets to ensure reliable and reusable operations at low cost.

Experts said the reusable rockets will have a broad range of applications, such as transporting astronauts, resupplying space stations and placing satellites into their orbits.

Kuaizhou 11, CASIC's new-generation carrier rocket, has further reduced the cost of entering space with its unique design. The solid-fuel carrier rocket's launch preparation time is shorter and its launch site requirements are lower, which makes space launches more convenient and cheaper. Although its carrying capacity is only about 200 kilograms, it can successfully reduce the launch cost to $30,000 per kilogram from the international average of $40,000 per kg.