HONG KONG and SHANGHAI (Ping An Group PR) — Ping An Insurance (Group) Company of China, Ltd. (HKEx:2318; SSE:601318) announced the successful launch of PingAn-3, also known as Taijing-1 01, Ping An’s first earth observation optical remote sensing satellite. PingAn-3, launched at the Jiuquan Satellite Launch Center, will join Internet of Things (IoT) satellites PingAn-1 and PingAn-2, to support the supply chain financial services of Ping An Bank and the development of inclusive finance.

Due to a lack of loan collaterals and reliable credit information, micro-, small and medium-sized enterprises (MSMEs) face challenges in raising funds required for business expansion and production upgrades. It is difficult and risky for financial institutions to review financing applications from MSMEs due to the long industrial chains, numerous cross-regional businesses, difficulties in due diligence, and receivables that are small amounts and high frequency.

by Douglas Messier
Managing Editor

During the past week, SpaceX launched 98 Starlink satellites, a Chinese commercial launch provider made it three in a row, Russia launched a rideshare mission with an Iranian satellite aboard, and India’s new small satellite launcher fell just short of orbit.

There have been 103 orbital launches worldwide, with 99 successes and four failures.

Let’s take a closer look at the last week in launch.