A second company to launch satellites

China Aerospace Science and Industry Corp, the country's largest missile maker, has established the country's second commercial launch company in an attempt to seize a share of the satellite launch market.

Expace Technology Co was founded and registered with the commerce department of Wuhan, capital of Hubei province, in mid-February, said Hu Xiaotao, general manager of the company.

Expace Technology has registered capital of 300 million yuan ($46.3 million) and will provide a satellite launch service to clients, Hu said.