China Aerospace Science and Industry Corporation, CASIC, is a large state-owned hi-tech enterprise under direct administration of the central government. It has seven academies, two scientific research and development bases and a number of specialized enterprises and research institutes, six public listed companies.

CASIC has grown out of the Fifth Academy of the Ministry of Defense which was established in October 1956. So far it has gone through the Ministry of the Seventh Machinery Industry, the Ministry of Aerospace Industry, the Ministry of Aviation and Aerospace Industry, China Aerospace Corporation, China Aerospace Machinery and Electronics Corporation and China Aerospace Science and Industry Corporation.

CASIC takes aerospace defense, information technology, equipment manufacture as its backbone industries, having also operations in the tertiary industry including finance, trade and real estate construction, taking a road of "military-based, integration of military and civilian" for strategic development. For more than fifty years since its establishment, it has provided for the country a good number of advanced missile weapon systems of different types, which greatly enhanced China's national defense capabilities and increased the army's equipment level. The successful launch of “Aerospace Tsinghua 1” satellite marks the considerable achievements that CASIC has made in the fields of mini satellite and solid propellant launch vehicle. Now various well performing aerospace products are indispensable components for Long March launch vehicles, manned space program and "Chang'e" lunar exploration program. The hi-tech products represented by Scientific Olympic project, the national "Golden Tax, Golden Card, Golden Shield "project have played key roles in promoting the economic development and people's living standards improvement.

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