China’s state defence giants see revenue slump as corruption probes stall procurement: SIPRI

Corruption investigations disrupted arms contracts at China's state-owned defence companies, causing a revenue decline in 2023. China's defence industry impacted by President Xi Jinping's anti-graft drive, with senior generals expelled over corruption charges. SIPRI data shows a 10% revenue drop for China's top defence firms, contrasting with global arms manufacturers' growth.