THE NEW SPACE RACE: China’s Space Pioneer raise funding for its Falcon 9-class rocket.

The funds will also be used for production of the smaller Tianlong-2, which had a successful inaugural flight in April this year. That launch made the company the first Chinese commercial firm to reach orbit with a liquid propellant rocket.

Construction of a launch site for the Tianlong-3 at China’s Jiuquan spaceport in the Gobi Desert is also noted.

Space Pioneer is targeting a first Tianlong-3 launch in the first half of 2024. It aims to launch 30 times per year within three years of the debut launch.

By then, SpaceX’s Starship should have Falcon 9 completely outclassed — assuming the Biden administration gets out of the way.