00:00China is racing to challenge Elon Musk in space.
00:02And a new satellite giant just made its move.
00:05Chinese satellite maker GalaxySpace has started the process for a public stock listing.
00:11This step is called the IPO tutoring phase in China.
00:14It means the company is preparing to go public and raise major funding.
00:19GalaxySpace builds low-Earth orbit satellites.
00:22These are the same type used by SpaceX's Starlink network.
00:25They orbit closer to Earth and deliver fast internet worldwide.
00:30Satellite internet has become extremely important.
00:33It has even played a role in modern military conflicts.
00:36China believes Starlink's dominance could be a security risk.
00:40So the country is rushing to build its own satellite internet network.
00:44GalaxySpace has already launched dozens of satellites.
00:47And many more launches are planned soon.
00:50The company is also expanding internationally.
00:52It is forming partnerships in countries like Thailand.
00:56If the IPO succeeds,
00:59GalaxySpace could become a major space internet player.
01:02And the global battle for space internet is only getting started.
01:05siinä
01:06Auldbij
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