HANGZHOU, April 26 (Xinhua) -- China's private rocket company Land Space Technology Corporation Ltd. signed contracts with UK's Open Cosmos and Italy's D-Orbit Thursday, totaling over 100 million yuan (14.8 million U.S. dollars).

The Hangzhou-based company will seek cooperation with the two overseas launch service and mission management providers in the launch of CubSat, a miniaturized satellite for space research and in-orbit delivery, according to Land Space.

Land Space's strength in technology and its strong team give Open Cosmos confidence in our cooperation, said Tristan Laurent, vice president of Open Cosmos.

Land Space, focusing on liquid-fuel rocket engines and low-cost commercial launch vehicles, has also sought business partners in the Middle East, North Africa, Europe and plans to launch Zhuque-2, a liquid-fueled medium lift carrier rocket, in 2020.

The Chinese government encourages the participation of private enterprises in the space industry. The country now has more than 60 private companies in the commercial space industry.