(Yicai Global) Jan. 16 -- Chinese private aerospace firm GalaxySpace, funded by Shunwei Capital, has sent China's first low-Earth orbit satellite with a communication capacity of 10 gigabytes per second into space.

GalaxySpace's first spacecraft will participate in building a global fifth-generation communication network, Shunwei's founder Lei said in a statement on Weibo today. Lei has also co-founded Xiaomi. 

Editor: Emmi Laine