Native name Chinese: 中国航天科工集团公司 Headquarters Beijing Type of business State owned company | Area served worldwide Founded 1 July 1999 | |
 | ||
Formerly called China Aerospace Machinery and Electronics Corporation Predecessor China Aerospace Corporation Key people Gao Hongwei (Chairman)
Li Yue (President) Products Satellite communication, Missiles, Radars, Special vehicles, Engines Owner State-owned Assets Supervision and Administration Commission of the State Council Subsidiaries Guizhou Aerospace Industry Co., Ltd. | ||
The China Aerospace Science & Industry Corporation (CASIC) is the main contractor for the Chinese space program. It is state-owned and has a number of subordinate entities which design, develop and manufacture a range of spacecraft, launch vehicles, strategic and tactical missile systems, and ground equipment.
Contents
History
First established as the 5th Academy of the Ministry of Defense in October 1956, it went through numerous name changes including the Ministry of the 7th Machinery Industry, the Ministry of Aerospace Industry, the Ministry of Aviation and Aerospace Industry, China Aerospace Corporation, China Aerospace Machinery and Electronics Corporation in July 1999, and finally the present name China Aerospace Science & Industry Corporation in July 2001. CASIC owns seven academies, two scientific research and development bases, six public listed companies, and over 620 other companies and institutes scattered nationwide, with more than 135,000 employees.
Business
CASIC is the biggest missile weapon system developing and manufacturing enterprise in China. It possesses a complete capability for developing, researching and manufacturing air defense missile systems, cruise missile systems, solid propellent rockets, space technological products and other technologies with products covering various fields of land, sea, air, and electromagnetic spectrum. CASIC has successively provided dozens of advanced missile equipment systems for the various nations, and it also has made outstanding contributions to Chinese manned space flight, lunar exploration and other key Chinese national projects. In 2012 (fiscal year), the total assets of CASIC is CNY 159.6 billion ¥, sales is CNY 134 billion ¥, and profit is CNY8.92 billion ¥.
CASIC has established ExPace as their commercial space launch rocket arm, for manufacturing their Kuaizhou series of solid rocket motor based space rockets.
China Sanjiang Space Group Co., the first commercial space launch company in China, is a subsidiary of CASIC.
Subsidiaries
CASIC had a subsidiary, CASIC Finance, which invested 15% stake in Yingda Asset Management.