“Private” Chinese company successfully completes 1st suborbital launch


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A Chinese company has successfully completed its 1st suborbital launch of a test rocket aimed at the smallsat market.

The news reports from China tout this company as private and commercial, and that might be so, but then there’s this:

China opened its space sector to private capital around 2015 and encouraged technology sharing through a civil-military integration reform policy, and the impacts are now becoming apparent.

OneSpace itself has received support from the State Administration for Science, Technology and Industry for National Defence (SASTIND), and has raised 500 million yuan (US$77.6m) through finance rounds, according to Tencent Technology.

The company might be called private, but it is also under the thumb of the Chinese government, which at any time can take it over or shut it down. At the moment the government is supporting its development, probably in the hope that China can grab some of the market of the smallsat boom expected in the next decade.

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One comment

  • pzatchok

    Almost nothing in China is private like the west refers.

    the large banks in China are all Government owned and managed.
    If they want a new company to get financing for a start up they just tell the bank to hand it the cash. the government ensures the bank is paid back with newly minted money.

    This is how they give the illusion of private companies and a stable economy.
    It will eventually catch up with them. They are just hoping that it happens slow enough to be covered up and compensated for.

    In the west a bank does not hand out loans because the government tells them to, they do it on the basis of proposed profitability.
    China does it because that area needs a new instant cement plant for another instant companies construction project. Paying the loan back is not as important as building the new government housing project.

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