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China's private space industry has suffered a setback after a leading startup failed in its first attempt to put a satellite in orbit.

LandSpace, a three-year-old company based in Beijing, said "something abnormal occurred" in the third phase of the launch Saturday that was meant to send a satellite into orbit for CCTV, China's state-run television network. The company is one of several Chinese startups that are trying to follow in the footsteps of Elon Musk's SpaceX in making a viable business out of commercial space launches.

Who's not sure how you have a private company in China where the State controls everything and thinks Elon Musk would definitely not last under Chinese authority...

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