With all engines firing in the tourism space race, China’s government has thrown now its hat in the ring, with a state-backed firm currently developing a plane capable of flying significantly more passengers to space than any other commercial spaceflight firm.

According to a report from New Scientist, the spacecraft will be able to fly up to 20 passengers to the edge of space, but will face competition from the likes of Virgin Galactic, whose recently unveiled SpaceShipTwo craft will accommodate six passengers at one time.

Speaking to the International Astronautical Congress in Guadalajara, Mexico, rocket scientist Lui Haiquang, who is working on the new craft, said that it would be a “a simple, one-piece spaceplane whose design can be scaled up to carry more people”.

The China Academy of Launch Vehicle Technology has created two versions of the rocket ship – one with a wingspan of 6m (19.6ft) for up to five people and one with a wingspan of 12m (39.3ft) which could fly up to 20 people. The craft will be reusable, with each plane able to carry out up to 50 flights during its lifetime.

Flights will launch from a commercial spaceport in a yet-to-be-determined location in 2020. Rides will cost between US$200,000 (€178,000, £157,000) and US$250,000 (€223,000, £196,000 per person.

In the private sector, Shenzen-based company KuangChi Science is already trying to reach space, unveiling US$1.5bn (€1.3bn, £1.1bn) plans last month to build a theme park in Hangzhou centred around a 21km (13m) balloon ride into the upper reaches of earth’s atmosphere.

KuangChi – headed by Liu Ruopeng – has detailed the plans on its website, which will use a pressurised capsule, called the “Traveller,” that will be carried upwards by a helium-filled balloon. Once at target altitude, the capsule will remain in the atmosphere for up to three hours, before descending to the landing area using GPS tracking.