China’s Military Firms Struggle as Corruption Purge Bites

Revenues at China’s giant military firms fell last year as corruption purges slowed arms contracts and procurement, according to a study released on Monday by a leading conflict think tank.
The Chinese declines contrast with strong revenue growth globally for big arms and military-services companies, fueled by wars in Ukraine and Gaza, and global and regional tensions, the research by the Stockholm International Peace Research Institute found.