Hong Kong (CNN Business)China’s private space industry has suffered a setback after a leading startup failed in its first attempt to put a satellite in orbit.
LandSpace, a three-year-old company based in Beijing, said “something abnormal occurred” in the third phase of the launch Saturday that was meant to send a satellite into orbit for CCTV, China’s state-run television network.
The company is one of several Chinese startups that are trying to follow in the footsteps of Elon Musk’s SpaceX in making a viable business out of commercial space launches.
