The story
CASC was officially established in July 1999 as part of a Chinese government reform drive, having previously been one part of the former China Aerospace Corporation. Various incarnations of the program date back to 1956.
Along with space and defense manufacture, CASC also produces machinery, chemicals, communications equipment, transportation equipment, computers, medical care products and environmental protection equipment. CASC provides commercial launch services to the international market. By the end of 2013, the corporation has registered capital of CN¥294.02 billion and employs 170,000 people.
In December 2017, the CASC was restructured from a state-owned enterprise (全民所有制企业) to a state-owned enterprise with limited liability (国有独资公司) with the approval of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). The sole shareholder is SASAC, the company's headquarters are still in Beijing, the business areas remained the same and nothing changed for the staff either.
In 2021, China's 14th five year plan included two low Earth orbit satellite constellations named "GW" featuring nearly 13,000 satellites was in development.
From Wikipedia’s article on China Aerospace Science and Technology Corporation, shared under CC BY-SA 4.0.4
