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Oct 22, 2007

First the world, then the moon

China has given itself a 15-year deadline to put a man on the moon. But before it reaches for the sky, it wants to use its power to get ahead in a tech industry on Earth. Bill Marcus has more.

by Marketplace Staff

TEXT OF STORY

Scott Jagow: China wants to put a man on the moon. But it’s not doing it with one giant leap — it’s taking baby steps.

This week, China will send a satellite into lunar orbit. It hopes to put astronauts on the moon in about 15 years. In the meantime, China’s moon program has other goals. Bill Marcus reports.

Bill Marcus: China wants to become a satellite manufacturing leader. That could provide telecommuncation companies greater access to China’s consumer markets.

They might be able to benefit by their relationship with the government and its aerospace industries. But at present, American companies are barred from passing on their technology.

Orient Securities Senior Analyst Chen Gang:

Chen Gang (interpreter): I think they need to find strategic partners in China, like forming strategic cooperation relationships with relevant companies or groups. Meanwhile, they also need to make a favorable impression and get recognition from the Chinese government.

Chen says China’s two aerospace groups together annually report sales of $27 billion a year, with as much as half of that generated by the civilian side.

In Shanghai, I’m Bill Marcus for Marketplace.

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