China Second in the World in Weapons Production after the United States

Business | January 27, 2020, Monday // 16:09| Views: | Comments: 0
Bulgaria: China Second in the World in Weapons Production after the United States www.pixabay.com

China ranks second in the world in weapons production after the United States. Four Chinese companies in the industry are among the top 20 arms dealers in the world, according to a report by a Swedish research institute published today.

The total sales of the four companies, including China's largest aviation aircraft manufacturer AVIC (Aviation Industry Corporation of China), amount to $ 54.1 billion in 2017, according to the Stockholm International Institute for Peace Studies (SIPRI), citing new data: AVIC is ranked sixth in terms of its $ 20.1 billion arms sales in 2017. Lockheed Martin is listed as the largest arms seller in the world that year with about $ 43.9 billion in sales.

In recent decades, Beijing has set itself the goal of "becoming self-sufficient in the production of weapons," the 2015-2017 report said.

SIPRI monitors military spending by countries and defense companies, but the lack of data from companies in China has long hindered a more accurate study. Estimates for China are based on information gathered from various sources, including credit rating reports, audits and annual reports.

Business » Be a reporter: Write and send your article
Tags: China, US, weapons, production
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria