The new space race: how China plans to break SpaceX’s launch monopoly with IPO push

To challenge the global launch market dominance of Elon Musk’s SpaceX, Beijing is adopting a coordinated, multi-company “wolf-pack” strategy fuelled by recent engineering breakthroughs in reusable rocketry. The milestones come as a wave of aerospace firms push to secure the capital needed to scale operations and capture global market share.According to exchange filings in Shanghai and Hong Kong, at least 15 commercial aerospace companies were now in the pipeline to go public. Among the applicants for IPOs, CAS Space and Beijing Minospace Technology had both advanced to the inquiry stage on the Nasdaq-style Star Market in Shanghai, officially known as the Sci-Tech Innovation Board and a primary fundraising platform to finance the nation’s space ambitions.Meanwhile, LandSpace Technology – widely regarded as a challenger to SpaceX – had its initial public offering review status restored to “Inquired” in late June after submitting updated financial materials. It was suspended in late March because of expired financial data, while the company now seeks to raise 7.5 billion yuan (US$1.1 billion)