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Chinese private spaceflight attracts long-term investment

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Chinese private spaceflight attracts long-term investment

2024-06-22 21:51 Last Updated At:23:57

Chinese private space companies are attracting more patient capital investment for their collaborative and long-term research and development.

The Chinese government has been encouraging private investment in commercial spaceflights since the State Council released relevant guiding opinions in 2014. Commercial spaceflights were listed as a new growth engine in the 2024 Report on the Work of the Government.

Statistics show that in 2023, about 170 financings took place in the country's commercial space sector, with a total disclosed amount of more than 18.5 billion yuan (about 2.55 billion U.S. dollars).

Yunyao Aerospace Technology, a private satellite company providing services for weather observation and sea voyages, plans to launch 41 satellites this year and complete its constellation of 90 satellites by the end of next year. However, its self-raised money could not meet the satellite launch requirements.

Wang Pengcheng, deputy general manager of the company, said that after receiving 21 million yuan (about 2.89 million U.S. dollars) from the investor, Essential Capital, and efforts to cut costs, their project was able to move forward.

"We used the money to do cost optimization and construction, and brought down the cost of some high-cost things. We have succeeded in a couple of on-board validations and operational launches, which is a good start for building the satellite constellation in the future," he said.

In addition, Essential Capital also helped Yunyao contact a rocket manufacturer to finalize launch plans.

Galactic Energy, a private rocket manufacturer in Beijing, has been producing more powerful rockets, with the carrying capacity of its Ceres-1 rocket having increased from 200 kg to 300 kg in six years.

"By next year, if Yunyao decides that the payload of its satellite will be a larger 200 kg, we will have a larger rocket at that time," said Liu Baiqi, founder of Galactic Energy.

Zhang Zhiyong, co-founder of Essential Capital, said that investing in space programs is a typical kind of patient capital, and he will not worry about revenue for a while. The process from space technology development to marketplace monetization can take an average of eight to ten years, during which investors should be patient and persistent, he said.

"The government encourages investment in the early stages of development, investment of new, high-end and competitive technologies and investment in small companies. In fact, patient capital means investing in early stages. It shows its value when those companies need financial support the most," Zhang said.

He noted that favorable policies for private participation in space, and continuous improvement of the comprehensive strength of China's manufacturing industry also enable him to have the patience and persistence in space investment.

Chinese private spaceflight attracts long-term investment

Chinese private spaceflight attracts long-term investment

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Iranian vlogger builds cultural bridge with China through social media

2024-07-18 19:05 Last Updated At:19:57

Iranian social media influencer Fereshteh Mokhtari, known as Mengjie in China, shared her experience of learning Chinese and working as a translator and tour guide to boost cultural exchanges between the two countries.

In her vlog for China Global Television Network (CGTN), Mokhtari said she started studying Chinese in Tehran in 2017 and has been in love with Chinese culture ever since. She began introduce Iranians to Chinese culture and gained tens of thousands of followers on social media platforms in Iran.

"My first job was as an interpreter at an international auto parts exhibition. Fortunately, my Chinese business partners were very kind and enthusiastic. This made me even more interested in the Chinese language and culture. As I'm interested in Chinese culture, I started to make videos to introduce Chinese culture to Iranians. I uploaded these videos to Iranian apps and gained 70,000 followers after some time. I became an internet celebrity in Iran," said Mokhtari.

In recent years, Mokhtari started working as a tour guide for Chinese tourist groups. She feels happy to be able to introduce the history and culture of Iran to Chinese tourists as a translator and tour guide, encouraging more people to learn Chinese.

"After the COVID-19 pandemic was downgraded, many tourists came to visit Iran. So I started to work as a tour guide, which I really enjoyed, as it gave me the opportunity to introduce Iran and its history to Chinese friends. Recently, I've been busy hosting tourist groups, and I'm glad to see that Chinese friends are interested in Iranian culture and history. They've really enjoyed their time in Iran. The Chinese tourists have all told me that they will recommend Iran as a travel destination to others when they return to China. This makes me very happy. If I had one more chance to choose my major again, I would still study the Chinese language. That's because I believe learning Chinese can lead to a bright future. Learning Chinese can help one do business, make money or study in China, all of which lead to a promising future," she said.

Iranian vlogger builds cultural bridge with China through social media

Iranian vlogger builds cultural bridge with China through social media

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