There are many private companies in China trying to get into the launch market. Some of them have already launched their rockets. Some are also making rocket engines. This particular launch is a collaboration between the university and a company in Beijing. The university makes the wave rider, while the company makes the rocket, there is another payload from Xi'an Electronic Tech University (former military) in the mid section.Government funding. If there are strong cases made for commercial and/or military applications, there would be government support. It's another way for the scientific establishments in China to look for talent as well while getting University level students and researchers involved.How is an university able to do this? Is this some form of a government research grant or like some kind of student engineering club/society (my uni has a similar one)?
Obviously this project also seeks to promote Xiamen University and the city to Chinese. Government may have some interest in doing this.
Not to mention Silicon Valley along with UC Berkeley and Stanford NEED some over seas Chinese to do a lot of their high tech R&D as well.One of the new talking points distributed to all the China-bashers is to point out that China's Silicon Valley in Shenzhen is no real competitor to the US because there are no universities of worth like Stanford and UC Berkeley are near Santa Clara. Irrelevant but the point being made is if anyone doesn't follow exactly how the US does it, it's a failure. I think Chinese universities and Shenzhen are doing just fine without following the US model.