China gives more access to private firms in arms sector

World Today

China has decided to give more access to private companies to its huge lucrative arms sector. The aim is to improve competition and innovation of the defense industry. This new policy will encourage more private non-state owned companies to develop and produce weapons and other military equipment to boost military capabilities.

CCTV’s Han Bin visits one private company in Beijing, which is positioning itself for the changes to come.

China gives more access to private firms in arms sector

China has decided to give more access to private companies to its huge lucrative arms sector. The aim is to improve competition and innovation of the defense industry. This new policy will encourage more private non-state owned companies to develop and produce weapons and other military equipment to boost military capabilities. CCTV's Han Bin visits one private company in Beijing, which is positioning itself for the changes to come.