On December 27, 2004, a ceremony marking the reorganisation of China Great Wall Industry Corporation (CGWIC) was held at Diaoyutai State Guesthouse.
Established in 1980, CGWIC is the foreign commercial arm of the Chinese space industry. Over the last decades, CGWIC has successfully launched 27 foreign satellites and 5 piggyback payloads into orbits. These achievements won CGWIC a 7-9% share of the international commercial launch services market from 1990 to 1998. In order to accelerate the participation of the Chinese space industry in economic globalisation, create more opportunities with which to develop China's foreign-oriented space economy, integrate the resources of foreign trade and promote CGWIC’s development, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and the Commission of Science, Technology and Industry for National Defense of the People’s Republic of China (COSTIND) made the decision to reorganise CGWIC.
Following this reorganisation, as a wholly owned subsidiary of China Aerospace Science and Technology Corporation (CASC), CGWIC will become the major platform for CASC’s international economic and technological cooperation initiatives. Mr. Wang Haibo has been appointed the new president of CGWIC.
SASAC and COSTIND representatives together with CASC President Mr. Zhang Qingwei and CGWIC President Mr. Wang Haibo together unveiled a CGWIC plaque, launching a new era for CGWIC.
Officials from SASAC, COSTIND and the Ministry of Finance supported the event, with other distinguished guests including Mr. Zhang Qingwei, General Manager of CASC and other CASC officials, former China aerospace industry officials Mr. Liu Jiyuan and Mr. Bai Baier, CASC department heads as well as officers from institutes and subsidiaries of CASC. A total of 180 people including CGWIC employees, officials of CGWIC’s subsidiaries, former CGWIC officers and retired veteran representatives took part in the ceremony.
Participants also included officers from China Aerospace Science and Industry Corporation (CASIC) and representatives from other organizations.