Chinese banks join the space race with satellite launches and rocket backing

Banks do not usually build space assets, but in China, lenders are increasingly leasing satellites, funding rocket firms and even launching spacecraft of their own. While banks elsewhere typically use satellite imagery as a purchased “alternative data” feed – for everything from monitoring crops and supply chains to assessing climate and credit risks – Chinese lenders are going further by putting satellites into orbit under their own names. China Merchants Bank (CMB) launched a satellite on...