China signed new rules overseeing military equipment contracts on Saturday, the official Xinhua news agency reported, part of the country’s long-term efforts to modernize its military, according to Reuters.
China plans to complete the modernization of its armed forces by 2035 and transform the People’s Liberation Army (PLA) into a world-class army by the middle of the century.
Chairman Xi Jinping, who is also chairman of the Central Military Committee for Oversight of the Armed Forces, is constantly pushing for new rules and regulations for the evaluation, procurement and testing of weapons and equipment.
The latest rules are aimed at improving efficiency in overseeing military equipment procurement contracts and ensuring the delivery of good quality equipment to the military, Xinhua said, without elaborating.
The rules will take effect on March 20. The announcement came a day after Xi had a video call with US counterpart Joe Biden during which they discussed the Ukraine war.
During the conversation, Biden warned China not to support Russia’s attack on Ukraine. Biden also said that China, which has called for a ceasefire in Ukraine, is making its own decisions.
For decades, Russia has helped China modernize its military by supplying its neighbor with weapons and equipment, from naval weapons to transport aircraft. No arms transfers have taken place in the other direction, according to independent arms transfers.
In October last year, Xi called for efforts to “open new ground” in the development of military equipment and weapons for the PLA.
China regularly conducts military exercises in the South China Sea, much of which it claims. It also sometimes deploys military aircraft in the air defense zone of self-governing Taiwan, which China claims as its own territory.
On Friday, China crossed the Shandong aircraft carrier through the sensitive straits of Taiwan, according to a source in Reuters.
China also has a long-standing border dispute with India.
China, which says it pursues a national defense policy, plans to spend 7.1% more on defense this year, surpassing last year’s increase.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
