What Happened
Private Chinese Firm Joins SpaceX With Orbital Booster Recovery
Chinese startup LandSpace has successfully recovered the first stage of its Zhuque-3 rocket, joining SpaceX and Blue Origin as the only private companies to achieve this feat. The reusable rocket technology is crucial for reducing costs and making space exploration a commercially viable business. The Zhuque-3 rocket, made of stainless steel, lifted off from the Dongfeng Commercial Space Innovation Pilot Zone in northwestern China and returned to a landing site in the province of Gansu. LandSpace aims to raise $1.11 billion through an initial public offering to support development and expand reusable launch services. This development was reported by Reuters.