China is estimated to be the world’s second largest arms maker after US
- Country has also reduced reliance on foreign weapons and military technology as its own industry expands, according to new research
- Stockholm International Peace Research Institute puts total sales by Chinese arms firms at US$70 billion to US$80 billion in 2017
New research suggests China is now the world’s second largest arms producer – after the United States and ahead of Russia – and it is becoming less dependent on foreign weapons and military technology.
In a report released on Monday, the Stockholm International Peace Research Institute (SIPRI) estimated total sales by China’s arms industry had reached US$70 billion to US$80 billion in 2017.
That compares to US$226.6 billion for the United States and US$37.7 billion for Russia, according to the Sweden-based think tank’s Top 100 list of the world’s largest arms companies for that year.
The annual list has not included Chinese companies in the past because of a lack of transparency. But newly available data on some Chinese firms meant four of them made the list and were ranked among the 20 biggest arms and military services companies in 2017, the report said.
Under President Xi Jinping, China has expanded its arms industry and restructured the military as Beijing seeks to modernise its armed forces by 2035 so that they are “world class” by 2049.