China Aerospace Science and Industry Corporation

China Aerospace Science and Industry Corporation

File:CASIC logo.png
File:CASIC Building (20211016151805).jpg CASIC headquarters
Native name	中国航天科工集团有限公司
Formerly	China Aerospace Machinery and Electronics Corporation
Company type	State-owned enterprise
Industry	Aerospace, Defense, Automotive, Electronics, Telecommunications, Information Technology, construction & Infrastructure
Predecessor	China Aerospace Corporation
Founded	July 1, 1999 (1999-07-01)
Headquarters	Haidian District, Beijing , China
Area served	Worldwide
Key people	Gao Hongwei (Chairman) Li Yue (President)
Products	Satellite communication, missiles, radars, special vehicles, engines
Revenue	US$34.07 billion (2017)
Operating income	US$1.60 billion (2017)
Total assets	US$44.27 billion (2017)
Owner	State-owned Assets Supervision and Administration Commission of the State Council
Number of employees	145,987 (2017)
Website	{{URL|example.com|optional display text}}

The China Aerospace Science and Industry Corporation (CASIC) is a Chinese government-owned enterprise focused on the engineering, production, and innovation of spacecraft, launch systems, strategic and tactical missile platforms, as well as associated ground support equipment. It holds the distinction of being the foremost missile producer in China.

History

Originating in October 1956 as the 5th Academy under the Ministry of National Defense of the People's Republic of China, CASIC has experienced several structural transformations and renamings before settling on its current title in July 2001. The organization consists of seven academies, two research and development centers, six publicly traded companies, and more than 620 subsidiaries spread across the country, collectively employing upwards of 145,987 individuals.

Beginning in 2011, CASIC provided North Korea with transporter erector launchers featuring 16-wheel and 18-wheel configurations to support its ballistic missile initiatives.

By 2017, the corporation reported total assets amounting to US$44.27 billion, revenues reaching US$34.07 billion, and net income of US$1.60 billion.

From 2020 onward, CASIC ventured into the energy logistics sector by transporting crude oil from Venezuela utilizing tankers that were procured from PetroChina.

U.S. Investment Restrictions

In November 2020, an executive order issued by Donald Trump—Executive Order 13959—prohibited U.S. individuals and corporations from holding shares in companies designated by the United States Department of Defense as affiliated with the People's Liberation Army (PLA), including CASIC.

Products

As China's foremost developer and producer of missile weaponry, CASIC focuses on air defense missile systems, cruise missile technology, solid-propellant rockets, space-related technologies, and capabilities spanning land, maritime, aerial, and the electromagnetic spectrum. The corporation delivers sophisticated missile solutions internationally and plays a pivotal role in significant Chinese national initiatives such as manned space missions and lunar exploration programs.

Functioning within sectors critical to China's national defense, CASIC has pioneered advanced military technologies. In 2019, it unveiled the "LW-30," a mobile laser defense platform mounted on vehicles that employs high-energy laser beams to disable threats. Moreover, CASIC launched the "CM-401," a supersonic anti-ship ballistic missile that broadens its range of cutting-edge missile systems.

Partnerships and Joint Ventures

During the G20 summit held in Saint Petersburg on September 5, 2013, a strategic cooperation agreement was formalized between CASIC, led by chairman Gao Hongwei, and Rostec, in the presence of China's top leader Xi Jinping and Russian President Vladimir Putin.

On May 30, 2016, CASIC entered into a memorandum of understanding with Siemens to establish a collaborative team dedicated to advancing initiatives related to Made in China 2025 and Germany’s Industry 4.0. This partnership aimed to foster strategic alliances in industrial internet applications and smart manufacturing. Siemens pledged support in electrification, automation, digital transformation, and the creation of an open IoT operating system leveraging cloud infrastructure.

Later, on July 5, 2017, in Berlin and witnessed by Xi Jinping alongside Chancellor Angela Merkel, CASIC chairman Gao Hongwei and Siemens CEO Joe Kaeser signed a strategic cooperation agreement designed to promote developments in industrial internet technologies and intelligent manufacturing solutions.

See also

• China Aerospace Science and Technology Corporation
• China National Space Administration
• Aviation Industry Corporation of China (AVIC)
• People's Liberation Army Air Force
• Commission of Science, Technology and Industry for National Defense