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Chinese Arms Companies’ Sales Increased by 4.8 Percent in 2019

On December 7, 2020, Stockholm International Peace Research Institute (SIPRI) issued a report on the state of the global arms industry in 2019. “The data showed that arms sales of the world’s 25 largest arms-producing and military services companies (arms companies) totaled US$361 billion in 2019.”

“12 U.S. companies appear in the top 25 for 2019. They account for 61 percent of the combined arms sales of those top 25.”

“The top 25 also includes four Chinese companies. Three are in the top 10: Aviation Industry Corporation of China (AVIC; ranked 6th), China Electronics Technology Group Corporation (CETC; ranked 8th) and China North Industries Group Corporation (NORINCO; ranked 9th). The combined revenue of the four Chinese companies in the top 25—which also includes China South Industries Group Corporation (CSGC; ranked 24th)—grew by 4.8 per cent between 2018 and 2019.”

SIPRI Senior Researcher Nan Tian said, “The Chinese arms companies are benefiting from military modernization programs for the People’s Liberation Army.”

“After the USA, China accounted for the second largest share of the 2019 arms sales of the top 25 arms companies. Its share was 16 percent.”

Source: SIPRI, December 7, 2020