Speaking Tuesday at a seminar on China's space technology, Xu Fuxiang, president of the Chinese Academy of Space Technology (CAST), announced the restructuring plan while pushing forward innovation in space technology and management.

He said the restructuring efforts will help the academy "continue its role as China's main force in space technology, research and development, and make more contributions to China's rapid progress in space technology in the 21st century."

The academy will develop several spacecraft in the next five years for China's ongoing space program, and most of the nearly 30 satellites China plans to build and launch during 2001-2005, said the president.

During the past five years, CAST has been pursuing a development strategy of going international and commercializing its technology by turning itself into a group company.

Set up in 1968, the academy employs about 10,000 people at its 12 institutes and two plants.

By the end of the 2000, CAST had developed 48 satellites for China's space programs, the president said.

The academy said its recoverable satellite technology, launching multiple satellites on one rocket, and geosynchronous station keeping technology are on the par with the international advanced level.

China has been encouraging its State-funded institutes specializing in applied research to turn themselves into research and development enterprises, in a bid to improve the country's technological innovation capability and commercialization of their achievements.