China’s state-owned military giants saw a 10 percent drop in sales last year amid corruption allegations against the country’s defense officials, according to a research center that tracks global armaments and conflicts.
The “substantial drop” in the total arms revenues of Chinese companies made Asia and Oceania the only region with decreased arms sales in 2024 amid a global boost, the report, published on Dec. 1 by the Stockholm International Peace Research Institute (SIPRI), found.
China’s weapons revenue fell despite three decades of rising defense budgets in Beijing’s growing strategic rivalry with the United States, Asia’s traditional military power, and tensions over Taiwan and the hotly disputed South China Sea….
China’s Arms Sales Drop Amid Military Purges, Report Says
