The Ningbo Aerospace Smart Technology City is a joint venture between the Ningbo Municipal Government and the China Aerospace Science and Industry Corporation (CASIC). Located in the Ningbo-Xiangyang Economic Cooperation Zone, it covers a planned area of 28 square kilometers. Following the principle of “overall planning and phased development,” the first phase covers an area of 3.5 square kilometers, with an infrastructure investment of 5 billion yuan.The project is jointly funded by the Ningbo Xiangbao Cooperation Zone Management Committee and China Aerospace Construction Group. Aerospace Science and Technology City Development Co., Ltd. has been established to oversee implementation, with a registered capital of 1 billion yuan for Phase I, of which the aerospace sector holds a 60% stake and the Ningbo side holds 40%.The project aims to complete the development and construction of the 8-square-kilometer initial phase by 2020, the 14-square-kilometer phase by 2025, and the full 28-square-kilometer area by 2035. It seeks to establish a 100-billion-yuan aerospace industry cluster, becoming a nationally significant aerospace technology city, a demonstration zone for military-civilian integration innovation, a Chinese model for smart parks, a platform for innovative development, and a demonstration zone for the integration of industry and urban development.