YJ-19, China’s first operational hypersonic cruise missile, is seen during a military parade in Beijing’s Tiananmen Square on Sept. 3, 2025. Greg Baker/AFP via Getty Images
China’s state-owned military giants had a 10 percent drop in sales in 2024 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.
