Chinese Banks Launch Satellites in Unprecedented Space Push

Major Chinese banks are now directly financing and launching satellites, a move far beyond typical banking activity. Globally, banks might buy satellite data to monitor risks. In China, lenders like China Merchants Bank (CMB) are leasing satellites, funding rocket companies, and even putting their own-named spacecraft into orbit. This direct involvement allows banks greater control over data for assessing credit risks, tracking supply chains, and observing economic activity. The strategy marks a significant shift, positioning these financial institutions as active players in the space-based data race.