China has world's second-largest arms industry, SIPRI estimates
Updated : January 27, 2020 09:53 AM IST
A lack of transparency means the Stockholm International Peace Research Institute has excluded China from its annual global rankings of arms makers, but it said credible financial information had become available for four major companies.
China is the world’s second-biggest arms producer, behind the United States and ahead of Russia, SIPRI said.
The Sweden-based think tank has said global expenditure in 2018 hit $1.8 trillion, its highest level since the end of the Cold War, fuelled by increased spending in the United States and China.