Collateral Risk, Episode 5: Partnership and Risk

What does it take to build a commercial space partnership when market opportunity, national security, and regulation all cross the same border? 

In Collateral Risk, Episode 5, Tamara Bond-Williams speaks with Fuhua Ni, founding and managing partner of Shanghai Zenith Law Firm, about the changing legal environment around China's commercial space sector. 

Fuhua traces the sector's growth since the government opened more room for commercial participation in 2014. He explains why companies face a fragmented regulatory landscape, how commercial and dual-use activities overlap, and where export-control systems such as ITAR and EAR shape the practical limits of international deals. 

The conversation also examines the Wolf Amendment, a proposed CSIS report on areas of possible US–China cooperation, and the effort to establish an SSPI China chapter. Throughout, Fuhua returns to a central question: how can professional relationships and clearer legal frameworks reduce risk without ignoring genuine political and security constraints? 

Collateral Risk is part of SSPI's Defense of Space initiative, which explores the commercial, legal, policy, and security choices shaping the space economy. 

The episode includes proofed English and Simplified Chinese captions.
https://www.youtube.com/watch?v=6TdBgAkSo3M