Greg Torode
Item 1 of 4 A member of the People's Liberation Army stands as the strategic strike group displays YJ-21 missiles during a military parade to mark the 80th anniversary of the end of World War Two, in Beijing, China, September 3, 2025. REUTERS/Tingshu Wang/File Photo
[1/4]A member of the People's Liberation Army stands as the strategic strike group displays YJ-21 missiles during a military parade to mark the 80th anniversary of the end of World War Two, in Beijing, China, September 3, 2025. REUTERS/Tingshu Wang/File Photo Purchase Licensing Rights, opens new tab
HONG KONG, Dec 1 (Reuters) - Revenues at China's giant military firms fell last year as corruption purges slowed arms contracts and procurement, according to a study released on Monday by a leading conflict think tank.
The Chinese declines contrast with strong revenue growth globally for big arms and military-services companies, fuelled by wars in Ukraine and Gaza, and global and regional tensions, the research by the Stockholm International Peace Research Institute found.
"A host of corruption allegations in Chinese arms procurement led to major arms contracts being postponed or cancelled in 2024," said Nan Tian, director of SIPRI's Military Expenditure and Arms Production Programme.
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