(Yicai Global) July 12 -- LandSpace, a private Chinese aerospace company, has successfully put the world's first methane-liquid oxygen space rocket into orbit, a major breakthrough in the use of low-cost liquid rocket propellants.

The ZQ-2 Y2 carrier rocket blasted off from the Jiuquan Satellite Launch Center in China's northwestern Gansu province at 9 a.m. today, according to LandSpace. The ZQ-2 Y2 will begin mass launches soon, the Beijing-based firm said, adding that it will provide the market with low-cost, high-performance, and high-capacity rockets.

At 49.5 meters in length and 3.35 meters in width, the ZQ-2 Y2 has a takeoff weight of 219 tons. As methane is easy to obtain and suitable for recycling, rockets using the same propellants as the ZQ-2 Y2 are cheaper than conventional rockets that use solid-state fuels.

Elon Musk's SpaceX and other aerospace companies, including China's i-Space, are also trying to develop liquid oxygen and liquid methane rockets. Starship, a new ultra-heavy rocket developed by SpaceX, uses liquid oxygen and liquid methane. During an unmanned test flight in April, Starship exploded midair. It is the biggest ultra-heavy rocket ever built.

SQX-2, a reusable launch vehicle powered by liquid oxygen and liquid methane developed by i-Space, had a successful test run verifying the rocket's power system, laying the foundation for vertical takeoff and landing tests, the company said on July 5.

Editors: Xu Wei, Futura Costaglione