Chinese Space Startup Launches Its First Sea-Based Rocket

(Bloomberg) — A Chinese space startup launched its first rocket from a marine platform in the Yellow Sea, intensifying a race among local companies attempting to compete with foreign firms such as Elon Musk’s SpaceX.

Gravity-1, a mid-size rocket made by Beijing-based Orienspace, took off from a ship near the coast of the northeastern city of Haiyang at 1:30 p.m. local time and sent three satellites into orbit, according to state media.