“Chinese private space startup LINKSPACE on Saturday successfully completed the third vertical takeoff and vertical landing (VTVL) test of a rocket, taking a step further in its development of a recyclable orbital rocket..”

Chinese startup LINKSPACE on Saturday completed its third test of a reusable rocket in five months, stepping up the pace in China’s race to develop a technology key to cheap space launches in an expected global boom in satellite deployment.

“One such start-up, LINKSPACE, is focusing on reusable rockets, which could reduce costs of future space missions. CNBC’s Eunice Yoon reports.