What is important here is the distance between the sponsoring company and the SPE. In the absence of adequate distance between the sponsor and the new entity, the latter will not be an SPE but only a subsidiary company. A good SPE should be able to stand on its feet, independent of the sponsoring company.
President Eisenhower authorizes creation of NASA. On this day in 1958, President Dwight D. Eisenhower signs an act that creates the National Aeronautics and Space Administration (NASA). He called the signing an [sic] historic step, further equipping the United States for leadership in the space age.
Chinese space program. The space program of the People's Republic of China is directed by the China National Space Administration (CNSA). Its technological roots can be traced back to the late 1950s, when the People's Republic began a ballistic missile program in response to perceived American (and, later, Soviet) threats.