China Aerospace Science and Industry Corporation, CASIC, is the backbone of national science and technology industry, is a large state-owned hi-tech enterprise under direct administration of central government. It has grown out of the Fifth Academy of the Ministry of Defense in 1956, and gone through a long history with different names of 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 the present one. CASIC owns seven academies, two scientific research and development bases, six public listed companies, and over 620 other companies and institutes scattering nationwide.