China Launched its 1st Satellite for Mobile Telecommunications

China Launched its 1st Satellite for Mobile Telecommunications

China Launched its 1st Satellite for Mobile Telecommunications

$CHA

Early Saturday, China successfully launched its 1st satellite for mobile telecommunication.

The Tiantong-01 satellite was launched at 00:22a Beijing Time, at southwestern China’s Xichang Satellite Launch Center, with the Long March-3B carrier rocket.

It is the 1st satellite of China’s home-made satellite mobile telecom system, and a Key part of the country’s space information infrastructure.

More geostationary satellites will be sent into orbit for the system.

Tiantong-01 was designed by China Academy of Space Technology and its ground service will be operated by China Telecom (NYSE:CHA). It will establish a mobile network with ground facilities, providing services for China, the Middle East, Africa and other areas.

The Long March-3B carrier rocket was produced by China Academy of Launch Vehicle Technology. It was the 232nd flight of the Long March series carrier rockets, and the 36th launch of the Long March-3B.

Symbol Last Trade Date Change Open High Low Volume
NYSE:CHA 51.01  5 August 2016 0.62 50.68 51.01 50.63 14,800
HeffX-LTN Analysis for CHA: Overall Short Intermediate Long
Bullish (0.44) Very Bullish (0.58) Bullish (0.40) Bullish (0.35)

Have a terrific week.

 

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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