Post by Global News on
China is catching up to USA as a Global Defense Contractor with fourth year of growth, now approx 108 billion in Sales Source: Seong Hyeon Choi - South China Morning Post (2023) China’s top defense contractors saw income grow for the fourth year in a row, SIPRI global top 100 list shows • Six out of eight Chinese firms on SIPRI Top 100 list posted revenue hikes last year, unlike US peers, and three made it to the top 10 • Approx 108 billion USD in Revenue Source: C Krishnasai - WION (2023) Beijing • Edited By: C Krishnasai Updated: Dec 04, 2023, 05:22 PM IST China’s top-tier defense contractors outpaced their US counterparts in armed sales for the fourth straight year in 2022, Swedish think tank Stockholm International Peace Research Institute (SIPRI) said in its report on Monday (Dec 4). According to the report, six of those listees registered an increase in revenue last year, while three made it to the top 10. The combined revenue for these eight Chinese companies grew by 2.7 percent to $108 billion, a fourth consecutive annual increase. Photo by Dan on Flickr Legal Disclaimer: INFYNIT is providing the content here for educational purposes only. All opinions are of the original author and not an opinion of INFYNIT or any of its affiliates. #globalnews #China #USA #MIlitary
