There are over 12,000 satellites in space, of which about 5,000 are non-functioning. With the rising of new space economy, i.e. commercialisation of space exploration, there will be an increasing number of satellites up in the sky. New space economy offers not only business opportunities to the forward-looking ones, but also bountiful challenges that lie ahead of all mankind. What relevance does satellite usage have to the development of space law? Professor Gregg Li and Professor Zhao Yun have shed light on this intriguing topic at the third edition of our ‘Space Law Series’. Starting with a comprehensive analysis of new space economy, especially in light of the rapid development and opportunities arising from it as well as the genuine need for space law-making, the discussion then moved on to an in-depth examination of space law development. Professor Zhao Yun of The University of Hong Kong first expounded on the historical background of satellite usage, then highlighted significant stages of space treaties and stressed the importance of soft law-making in relation to the closing down of loopholes of international space law regime. While space era started with satellite usage, the development of space law will be more diversified with the inevitable ongoing development of both space commercialisation and privatisation.