China aims to build a commercial space launch industry with $8 billion in funding to compete with SpaceX, Blue Origin, and Virgin Galactic. The Chinese government has loosened its monopoly on space launches and opened the industry to private investment in 2014. More than 60 Chinese companies have entered the commercial space sector in recent years. China wants to be one of the top three aerospace powers by 2030 as part of its Belt and Road initiative to build international ties. The government investment and private sector development will allow China to focus on ambitious goals like landing astronauts on the moon.