China's sharing economy expanding to space

China's sharing economy expanding to space

Share: 

China's booming sharing economy is blasting off into space with a telescope that satellite users can rent by the hour to look at distant stars and planets. The satellite will allow space lovers to log onto a web portal to use professional astronomy equipment for 2,000 yuan ($295) to 3,000 yuan per hour. The project is the brainchild of Changsha-based company Tianyi Space Research Institute. The time-share satellite is expected to go online next year, Tianyi CEO Yang Feng told Caixin. Tianyi is one of a handful of commercial space companies in China that's breaking new ground in an industry that has been dominated by state agencies for decades. Although there are only around a dozen commercial space enterprises in the country, the nascent field has already attracted significant investor attention. On May 18, rocket design startup One Space Technology announced that, months after completing its A-round of financing last year.