CCTV Script 04/11/14

— This is the script of CNBC's news report for China's CCTV on November 4, Tuesday.

Welcome to the CNBC Business Daily.

Investigators are looking into what went wrong with the Virgin Galactic spaceship that crashed last Friday.

The Space Ship Two test flight left one pilot dead and another badly injured.

Jane Wells has more.

Employees have gathered to work at the Virgin Atlantic hangar behind me but at this very early stage of the investigation it appears that Spaceship Two broke up in mid air after its back end moved from a horizontal position closer to a vertical intentionally, but too early. Was that the cause or contributing factor? We dont know. It is a unique element in the craft which is supposed to slow its descent, but in this case,the National Transportation Safety Board says it was deployed too soon. A camera in the cockpit showed the pilot in the right seat, unlocking the system, before Spaceship Two had reached the appropriate speed.

Jane: What happened?

[CHRISTOPHER HART / ACTING CHAIRMAN, NTSB] "An ordinary flight, these booms are extended in that direction of flight. After the craft reaches its apathy and starts to come down and then they move into this position in order to slow the descent. What happened was that they moved into this position uncommanded and the air dynamic forces then caused in-flight disintegration."

[RICHARD BRANSON / FOUNDER, VIRGIN GROUP] "If that ends up being the case, that is something that is easy to fix. We can make absolutely certain that it cannot be again in the future. It is a grand programme which has had a horrible setback but I dont think anyone watching this programme would want us to abandon it at this stage."

The dead pilot is second from the right here, 39-year-old Michael Alsbury, seen after a successful test flight last year. That is also Alsbury in between Burt Rutan who created the spacecraft and his fellow pilot on that trip, different from the pilot on this trip. As we continue to look at that video from the previous succesfful trip, the National Transportation Safety Board wont say which pilot was on the right seat Friday unlocking the braking system. Reuters is reporting it was the surviving pilot THE CAPTAIN, PETER SIEBOLD. We have not confirmed that. Businesses in the Mojave vow to continue and Richard Branson vows to continue the work at Virgin Galactic. This is an area where so much innovation has happened over the decades, Chuck Yeager broke the sound barrier maybe ten miles from here. This is the valley where they created the SR71, the stealth bomber and the stealth fighter. The question for these smaller private companies now who dont have billionaires bankrolling them, will investment hit a bump in the road? In the Mojave desert, Im Jane Wells, CNBC Business News.

I'm Qian Chen, reporting from CNBC's Asian headquarters.

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