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RFI Chinese: Xi Jinping Met with Moon Explorer Crew and Space Stock Fell

Radio France Internationale (RFI) Chinese Edition recently reported that Chinese Communist Party leader Xi Jinping met with the crew of the Chinese moon explorer Chang’e 5, which had just completed a mission to the moon and brought back surface samples. Xi acknowledged the major achievements of the mission and the crew and praised the developments under the Chinese space exploration program. Xi also credited the centralized planning and government sponsorship model for the accomplishments made in the space program. However, right after Xi’s speech, two major Chinese space companies, AECC Aviation Power Co. (Shanghai Stock Exchange 600893) and AVIC Shenyang Aircraft Company Limited (Shanghai Stock Exchange 600760), saw their stock prices fall significantly by 8.39 percent and 7.93 percent, respectively. Both companies have market values above RMB 100 billion (around US$15.4 billion).

Source: RFI Chinese, February 22, 2021