June 5, Shanghai Aerospace Industry (Holding) Co., Ltd. (SAIC) officially launched its entity operation, which is a key step forward in the civilian industry management mode transformation of Shanghai Academy of Spaceflight Technology(SAST) affiliated to China Aerospace Science and Technology Corporation. Carrying out entity operation SASIC will strive to build itself become streamlined, efficient, professional investment and financing industrial management platform.

SASIC entity operation is important measures taken by Shanghai Academy of Spaceflight Technology in the reconstruction of a scientific, efficient civil industrial management system. Through the reorganization of part of the assets and Shanghai Aerospace Industry (Group) Co., Ltd., SAST will further simplify administrative procedures, delegate powers to lower levels and optimize the asset structure of civil industry to build an efficient investment and financing platform with capital and investment relations as its link to improve the ability to control industrial clusters, to promote space technology applications and service industrial transformation and upgrading, and enhance the core competition of key industries.

Based on SASIC platform, SAST will adjust and reform companies’ governance structure, asset ownership and management mode, etc. and establish clear accountability systems, institutional systems and business processes to form a market-oriented scientific decision-making operation system with efficiency as its center, promote the transformation and upgrading of the civilian industry of Shanghai Academy of Spaceflight Technology according to market principles to participate in market competition, breaking the bottleneck in the development of civilian industries and achieve innovative development.