“Private” Chinese company successfully completes 1st suborbital launch
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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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.
Readers!
Please consider supporting my work here at Behind the Black. Your support allows me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Only now does it appear that Washington might finally recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
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.