The latest report from the Stockholm International Peace Research Institute on December 1st revealed that global demand for military hardware is on the rise due to the conflicts in Ukraine, Gaza, and escalating tensions worldwide. However, in sharp contrast, the revenue of China’s military industrial enterprises is declining.
Data shows that the revenue of China’s large military industrial enterprises decreased by 10% in 2024, totaling around $88.3 billion, the largest drop among all countries on the list. The report’s analysis points out that the primary reason for the decline in China’s military industry revenue is the intensive anti-corruption campaigns in recent years. With top officials falling from power one after another, contracts are being reexamined, leading to delays in many projects.
Despite widespread corruption within the Chinese Communist Party, it does not affect the aggressive style of the People’s Liberation Army. In fact, China is currently facing internal and external challenges, plagued with numerous problems. In order to shift the focus away from domestic issues, there is a possibility that they may take dangerous risks and become even more perilous.
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