Celestial empire. China launched its first privately-made rocket on Thursday. The "Chongqing Liangjiang Star" rocket was developed by Beijing-based OneSpace Technology, which was founded in 2015. "This is the first rocket developed and built entirely with homegrown technology," founder and CEO Shu Chang claimed. Although OneSpace is privately-held, it has entered partnerships with state-owned firms, such as Chongqing Liangjiang Aviation Industry Investment Group. The two inked a deal to co-build an R&D centre last year. CNN