But the Chinese space agency isn't heavily invested in marginal financial returns on every new satellite with a six month shelf life they put into orbit.

If they were launching these things, they wouldn't be China. They'd be, at best, post-glasnost Russia. But since they aren't trying to leverage the profitability of the last vestiges of their socialist economy for another quarterly positive return, the Beijing central planners see no material benefit to triggering Kessler Syndrome just so some fly-by-night telecomm company can promise global coverage contingent on the Federal Reserve keeping the money faucets running.