[People News] A report released Monday (December 1) by a Swedish think tank dedicated to research on arms control and disarmament shows that in 2024, major Chinese military-industrial enterprises saw their revenues fall by 10%, forming a stark contrast with rising arms industry revenues in other countries and regions around the world.

The report notes that the decline was caused by the CCP’s recent anti-corruption investigations, which resulted in the removal of multiple senior executives from several military-industrial enterprises, leading to delays or cancellations of some contracts. However, the outside world believes that the CCP’s anti-corruption efforts have long been seen as a tool for purging political rivals, becoming a battleground for internal power struggles.

According to Voice of America, the Stockholm International Peace Research Institute (SIPRI) in Sweden released its report on Monday detailing total revenues of the world’s top 100 weapons manufacturers and military service companies. The report shows that the eight China-based companies in the global top 100 saw their total military-industrial revenue fall by 10% to 88.3 billion. This represents the largest decline among all countries represented in the global top 100 for 2024.

The report lists China’s largest military-industrial enterprise, Aviation Industry Corporation of China (AVIC), ranked eighth in the world, whose military revenue fell 1.3% to 20.3 billion USD due to a slowdown in military aircraft deliveries.

Ranked 11th, China’s largest land-based weapons systems manufacturer, China North Industries Group (NORINCO), experienced the steepest decline among the top 100 global companies. The company’s arms revenue fell 31% to 14 billion USD. The drop was attributed to the removal in 2024 of the company’s chairman and the head of its defense division for alleged corruption, after which the government reviewed or delayed major contracts with the firm.

According to the report, ranked 17th, Chinese aerospace and missile manufacturer China Aerospace Science and Technology Corporation (CASC) saw its arms revenue drop 16% to 10.2 billion USD. This was mainly because its president was dismissed at the end of 2023 on corruption charges, resulting in delays to military satellite and launch vehicle projects.

In 2025, eight senior PLA generals—including He Weidong, the CCP military’s No. 2 figure—were expelled from the Party on corruption charges. He Weidong previously served as Vice Chairman of the Central Military Commission (CMC) under Xi Jinping; the CMC is the CCP’s highest military command authority. It is said that He Weidong’s downfall was connected to corruption cases within the Rocket Force and the former General Armaments Department.

SIPRI’s research finds that the decline in CCP military-industrial revenues contrasts sharply with strong revenue growth among major global defense companies. The report states that due to the Russia-Ukraine war, the Gaza conflict, rising global and regional geopolitical tensions, and continuously increasing military spending worldwide, the global top 100 arms manufacturers saw revenue rise by 5.9% in 2024, reaching a record 679 billion USD. In Asia, Japan saw a substantial 40% increase, and South Korea 31%. In Europe, Germany saw a 36% increase.

The report shows that 39 companies on the global top-100 list are based in the United States, including four U.S. companies ranked among the global top five. Their combined revenue rose 3.8% to 334 billion USD, accounting for nearly half of the total revenue of the top 100 companies.

△