Startups eye rocket and satellite markets

As China moves progressively toward its goal of becoming a major power in the global space arena that can rival the United States, space startups and local governments are also racing to tap into the boom in rockets and satellites.

Over the past two months, about 2.4 billion yuan ($357 million) of investment was raised by two major private rocket companies in Beijing. In September alone, two massive manufacturing complexes－one for satellites and another for rockets－started construction in Hebei province's Tangshan and Shandong province's Haiyang.

Now, the southern coastal province of Guangdong, one of China's economic powerhouses, is determined to catch up and has chosen to start by building carrier rockets.