China has 400 private space companies. The West is barely paying attention

China's private space industry has grown from nearly nonexistent a decade ago to over 400 commercial space companies, developing reusable rockets, satellite constellations, and asteroid-mining projects. The rise of SpaceX influenced Chinese reforms, leading to private sector innovation, with companies like LandSpace achieving milestones such as the first methane-powered rocket in orbit in 2023.