by Douglas Messier
Managing Editor

Galactic Energy, which became the second private Chinese launch provider to orbit a satellite on Saturday, has announced that it completed a Series A financing round of 200 million yuan ($30.25 million) in September.

In a press release, Galactic Energy said the funding will be used to manufacture and perform upgrades on the solid-fuel Ceres-1 small-satellite booster that flew last week. The funding will also allow the company to continue research and development on its larger liquid-fuel Pallas-1 (Zhishen-1) booster.

Completing our look at the U.S.-China Economic and Security Review Commission’s 2019 Report to Congress, we examine how China is using its space program to achieve the nation’s geopolitical and economic goals. [Full Report]

by Douglas Messier
Managing Editor

China is using its growing space program to achieve a range of geopolitical and economic goals, including attracting partners for its Belt and Road Initiative (BRI), improving economic and political ties with other countries, and deepening others’ reliance on its space systems and data services.

“Beijing views its space program as key to elevating its leadership profile in international space cooperation, including through BRI, and establishing a dominant position in the commercial space industry,” according to the U.S.-China Economic and Security Review Commission’s 2019 Report to Congress.