Chinese weapons export has increased manifold during last 5 years: Report
BEIJING: A military think tank claimed that Chinese weapons export has doubled in the past five years.
The think tank claimed that China is investing at large scale in the weapon industry.
Stockholm International Peace Research Institute (SIPRI) claimed that 25% of China’s imports fell in last 5 years due to homegrown weapons industry.
China is world’s 3rd largest weapon exporter and contributes 5.9% in global arm exports.
A SIPRI official Siemon Wezeman claimed that China is offering highly advanced arms compared to recent ten years which is attracting bigger markets.
Most Asian and Oceania countries are buying China’s arms including Pakistan the biggest buyer with 35%.
Despite all this, China still needs to import weapons from other countries.
Chinese military budget was 886.9 billion yuan ($141.45 billion) in 2015 which is 10% more from previous year.
China has also signed a deal with Russia to buy air defense system including two dozen combat jets.