China’s Billionaires Take Low-Profile Route to Exploring Space
Bloomberg 14 hrs ago Bruce Einhorn
(Bloomberg) Now that Jeff Bezos and Richard Branson have made their trips to space, other billionaires are bound to follow. China’s ultra-rich are also looking for adventure and business opportunities in the skies, but they’ll be keeping their feet firmly on the ground.
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The country’s tycoons are steering clear of space tourism and the type of exploration that Elon Musk is pursuing even further afield, instead focusing on businesses like satellite manufacturing and rocket launching that support China’s ambitions in space.
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Chinese Space Sector Continues World-Leading Post-Covid Rebound: Euroconsult Quarterly Report
May 11, 2021 By Editor
The Chinese space sector has seen rapid commercialisation over the past 7 years, with well over 100 companies established and around ¥40B (US$6.5B) raised by commercial space organisations. While still only representing a small percentage of the US$35B in annual revenues of the country’s state-owned space industry giants, the figures are rising and support for commercialisation is accelerating in the Middle Kingdom.
Paris, Washington D.C., Montreal, Yokohama, 11 May 2021 – Following a record year for commercial space funding in China, and with 2021 showing further significant year on year growth, leading international consulting and market intelligence firm Euroconsult have announced a new quarterly market intelligence report dedicated to providing the latest news, expert analysis and insights into the lucrative Chinese space market.