{"id":67987,"date":"2024-08-06T18:29:28","date_gmt":"2024-08-06T18:29:28","guid":{"rendered":"https:\/\/staging.sightlinemg.com\/defensenews\/uncategorized\/2024\/08\/06\/chinese-defense-firms-saw-mixed-results-corruption-fallout-in-2023\/"},"modified":"2026-08-08T01:11:29","modified_gmt":"2026-08-08T01:11:29","slug":"chinese-defense-firms-saw-mixed-results-corruption-fallout-in-2023","status":"publish","type":"post","link":"https:\/\/staging.sightlinemg.com\/defensenews\/top-100\/2024\/08\/06\/chinese-defense-firms-saw-mixed-results-corruption-fallout-in-2023\/","title":{"rendered":"Chinese defense firms saw mixed results, corruption fallout in 2023"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The seven Chinese state-owned enterprises included in the <a href=\"https:\/\/people.defensenews.com\/top-100\/\" target=\"_blank\">Defense News Top 100<\/a> saw mixed results in 2023. The two largest companies performed well, with double-digit growth in their defense-related revenues between 2022 and 2023. Two other companies maintained steady <a href=\"https:\/\/www.defensenews.com\/top-100\/2024\/08\/06\/push-for-self-reliance-drives-defense-revenue-surge-among-top-100\/\" target=\"_blank\">revenue growth<\/a>; however, of the remaining three, two in the ground and aerospace sector saw declining profits and another failed to report results at all.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Overall, companies sought to deepen their innovation investments, and some benefited from stronger civilian sector market demand as well as continued <a href=\"https:\/\/www.defensenews.com\/news\/pentagon-congress\/2024\/06\/19\/chinese-militarys-rifle-toting-robot-dogs-raise-concerns-in-congress\/\" target=\"_blank\">People\u2019s Liberation Army<\/a> modernization developments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, allegations of corruption within <a href=\"https:\/\/www.defensenews.com\/opinion\/2024\/06\/13\/are-we-sure-china-views-sea-power-the-same-way-the-west-does\/\" target=\"_blank\">China\u2019s defense industrial base<\/a> in 2023 led to leadership change and renewed calls for political loyalty among industry chiefs.<\/p>\n\n\n\t<aside class=\"smg-interstitial-link wp-block-smg-interstitial-link\">\n\t\t<a href=\"https:\/\/staging.sightlinemg.com\/defensenews\/top-100\/2024\/08\/06\/the-top-100-is-here-find-out-how-defense-companies-performed-in-fy23\/\" class=\"smg-interstitial-link__inner\">\n\t\t\t\t\t\t\t<div class=\"smg-interstitial-link__media\">\n\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"169\" src=\"https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/8-test-image-clipped.jpg.jpg?w=300\" class=\"smg-interstitial-link__image wp-post-image\" alt=\"\" \/>\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"smg-interstitial-link__content\">\n\t\t\t\t<span class=\"smg-interstitial-link__kicker\">Related<\/span>\n\t\t\t\t<h3 class=\"smg-interstitial-link__title\">The Top 100 is here: Find out how defense companies performed in FY23<\/h3>\n\t\t\t\t\t\t\t\t\t<p class=\"smg-interstitial-link__excerpt\">We reveal who\u2019s up and who\u2019s down for 2024, based on fiscal 2023 defense revenue.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/a>\n\t<\/aside>\n\t\n\n\n<h2 class=\"wp-block-heading\">AVIC<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Between 2022 and 2023, AVIC\u2019s defense production-related revenue increased by 52.6% (45% in U.S. dollars, given the weaker yuan). Though the company ranks first in defense-related profitability from all <a href=\"https:\/\/www.defensenews.com\/global\/asia-pacific\/2024\/04\/26\/why-china-axed-the-strategic-support-force-and-reshuffled-the-military\/\" target=\"_blank\">Chinese defense-related<\/a>, state-owned enterprises (SOEs) for the fifth year in a row, it also ranks second in this year\u2019s Top 100 company ranking, coming in behind Lockheed Martin.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company\u2019s strong growth in 2023 was attributed to its main subsidiaries \u2014 Chengdu Aircraft Industrial Group Co. Ltd., Xi\u2019an Aircraft Industry Group Company Ltd. and Shenyang Aircraft Company Ltd. \u2014 having exceeded targets in their annual batch production and delivery missions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition to producing new technologies, the PLA continues to replace legacy aircraft, such as the J-7 fighter jets, with new ones. New production lines are also being implemented to improve production and quality.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"2100\" height=\"1400\" src=\"\/wp-content\/uploads\/2026\/08\/35552273-3631-4c5d-86b3-c87995cabc9c.jpg.jpg\" alt=\"\" class=\"wp-image-118970\" srcset=\"https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/35552273-3631-4c5d-86b3-c87995cabc9c.jpg.jpg 2100w, https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/35552273-3631-4c5d-86b3-c87995cabc9c.jpg.jpg?resize=300,200 300w, https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/35552273-3631-4c5d-86b3-c87995cabc9c.jpg.jpg?resize=768,512 768w, https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/35552273-3631-4c5d-86b3-c87995cabc9c.jpg.jpg?resize=1024,683 1024w, https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/35552273-3631-4c5d-86b3-c87995cabc9c.jpg.jpg?resize=1536,1024 1536w, https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/35552273-3631-4c5d-86b3-c87995cabc9c.jpg.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 2100px) 100vw, 2100px\" \/><figcaption class=\"wp-element-caption\">Visitors look at the Chinese military&#8217;s J-16D electronic warfare airplane, September 2021. (Ng Han Guan\/AP)<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">CSSC Group<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Ranking second in this year\u2019s list of Chinese SOEs, the China State Shipbuilding Corporation Ltd. Group\u2019s defense-related revenue grew by 25.7% year-on-year (19% in U.S. dollars).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The group\u2019s results have been the largest year-on-year growth since the merger of China\u2019s two largest shipbuilding conglomerates in 2018, and reflect the continued strength of China\u2019s shipbuilding sector within the global market. In particular, the company refers to growing demand for \u201cgreen\u201d ship orders in the civilian shipbuilding sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition to strong demand, CSSC reports having benefited from \u201crelatively friendly\u201d global market improvements, such as ship and steel prices, as well as exchange rates.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At its 2024 annual company work conference in January, priorities for the company in 2024 were outlined as: focusing on the primary responsibility of military industry; strengthening and improving international competitiveness; increasing volume and improving quality; accelerating S&amp;T self-reliance; and accelerating labor productivity of all employees, deepening the governance of loss-making enterprises and disposing of inefficient ones.<\/p>\n\n\n\t<aside class=\"smg-interstitial-link wp-block-smg-interstitial-link\">\n\t\t<a href=\"https:\/\/staging.sightlinemg.com\/defensenews\/top-100\/2024\/08\/06\/push-for-self-reliance-drives-defense-revenue-surge-among-top-100\/\" class=\"smg-interstitial-link__inner\">\n\t\t\t\t\t\t\t<div class=\"smg-interstitial-link__media\">\n\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"200\" src=\"https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/KAAN_ILK_UCUS_FOTO_21-02-2024_22-copy.jpg.jpg?w=300\" class=\"smg-interstitial-link__image wp-post-image\" alt=\"\" \/>\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"smg-interstitial-link__content\">\n\t\t\t\t<span class=\"smg-interstitial-link__kicker\">Related<\/span>\n\t\t\t\t<h3 class=\"smg-interstitial-link__title\">Push for self-reliance drives defense revenue surge among Top 100<\/h3>\n\t\t\t\t\t\t\t\t\t<p class=\"smg-interstitial-link__excerpt\">Asian and European defense companies in the Top 100 list of highest revenue drivers are growing faster than those based in the United States.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/a>\n\t<\/aside>\n\t\n\n\n<h2 class=\"wp-block-heading\">NORINCO<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Though NORINCO still ranks third in the Chinese defense SOEs list and 9th in Defense News\u2019 Top 100, the company\u2019s year-on-year defense-related revenue dipped by 2.6% (8% in U.S. dollars).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2023, the company acquired two Chinese subsidiaries linked to universities: Xi\u2019an Jiaotong University Aisheng Group and Beijing Beihang University\u2019s Tianyu Changying UAV Technology Co. Ltd.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Both companies specialize in unmanned aerial vehicle research and development, and NORINCO hopes they will in turn increase the company\u2019s \u201cnew war industries\u201d offering \u2014 in addition to its current supply \u2014 to the PLA\u2019s ground forces.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, in 2023 the PLA deployed NORINCO\u2019s PHL-16 Multiple Launch Rocket System in the 73rd Group Army of the Eastern Theatre Command.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">CSGC<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Further in the land domain, China South Industries Group fared slightly better, with a 7.6% year-on-year growth (2% in U.S. dollars) result for its defense-related revenue.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company reported a significant improvement in production quality following internal reforms focused on optimizing industrial layout and strengthening the military ecosystem, though no details were provided.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CSGC highlighted that its combat equipment in particular had a 100% pass rate for the first inspection of major products. A total of 208 institutes and its Jianshe Group have passed third-level maturity evaluations. The company\u2019s growth was driven by its civilian automobile sector, particularly in electronic vehicles.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As noted by other defense-related SOEs, CSGC has invested heavily in innovation, including adding three new innovation centers. As a result, the company reports \u201cbreakthroughs\u201d in more than 30 key technologies, including light alloy multi-field pressure casting systems and wire-controlled chassis.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition to developing its own R&amp;D capabilities, CSGC has also partnered with other Chinese firms such as Huawei, Horizon Robotics and CATL.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"5000\" height=\"3333\" src=\"\/wp-content\/uploads\/2026\/08\/5e529b78-0532-4301-8089-314cf621085d.jpg.jpg\" alt=\"\" class=\"wp-image-118972\" srcset=\"https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/5e529b78-0532-4301-8089-314cf621085d.jpg.jpg 5000w, https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/5e529b78-0532-4301-8089-314cf621085d.jpg.jpg?resize=300,200 300w, https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/5e529b78-0532-4301-8089-314cf621085d.jpg.jpg?resize=768,512 768w, https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/5e529b78-0532-4301-8089-314cf621085d.jpg.jpg?resize=1024,683 1024w, https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/5e529b78-0532-4301-8089-314cf621085d.jpg.jpg?resize=1536,1024 1536w, https:\/\/staging.sightlinemg.com\/wp-content\/uploads\/2026\/08\/5e529b78-0532-4301-8089-314cf621085d.jpg.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 5000px) 100vw, 5000px\" \/><figcaption class=\"wp-element-caption\">(Mark Schiefelbein\/AP\/REX\/Shutterstock)<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">CETC<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">CETC came in fourth in China\u2019s defense-related SOE rankings for a third consecutive year, reporting 5.6% year-on-year growth (0% in U.S. dollars) despite being added to the U.S. Commerce Department\u2019s Entity List for supporting China\u2019s military modernization and PLA aerospace programs following the 2023 Chinese balloon incident in the United States.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In order to withstand U.S. pressures, CETC absorbed state-owned digital services provider China Hualu Group \u2014 its second takeover in two and a half years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">China\u2019s state-owned Assets Supervision and Administration Commission has promoted the merging of SOEs in critical sectors in order to boost efficiency, competitiveness and innovation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In CETC\u2019s case, results have been mixed. Some of CETC\u2019s other parent company subsidiaries noted small losses in the first three quarters of 2023, such as Chips Technology Inc. and the recently acquired Potevio Co. Ltd.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Others, however, such as CETC\u2019s Cyberspace Security Technology Co. Ltd, which predominantly focuses on data security and cryptography technology, reported increases throughout the first three quarters of 2023.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Overall competitiveness has reportedly been improved in recent years due to integration between industrial chains and a focus on R&amp;D investment, though the latter has also come at a financial cost. The company spends roughly 11.8% of its profits on R&amp;D investment, which is expected to grow in the future.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nevertheless, the company\u2019s dominant position in providing military electronics \u2014 at a time when the PLA continues to focus on achieving informatization and intelligentization \u2014 means CETC\u2019s revenue has further room to grow.<\/p>\n\n\n\n<h1 class=\"wp-block-heading\">CASC &amp; CASIC<\/h1>\n\n\n\n<p class=\"wp-block-paragraph\">China\u2019s Aerospace Science and Technology Corporation (CASC) reported a surprising 77% year-on-year loss (79% in U.S. dollars) in 2023. The company\u2019s defense-related revenue represented less than 5% of AVIC\u2019s 2023 defense revenue. CASC ranked 52nd in this year\u2019s Defense News Top 100, a drop of 37 places.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company reported that its business was affected by floods in North China, which resulted in asset losses, equipment and infrastructure maintenance requirements and other related expenses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some contracts were delayed in delivery. And larger market factors, such as intensified market competition and rising production costs, also played a role.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Elsewhere in the aerospace sector, CASIC has not yet published its annual report.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">China\u2019s space sector and the PLA Rocket Force experienced political challenges in 2023.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The PLA Rocket Force and Equipment Development Department were at the center of a corruption investigation, in which multiple high-level officials were implicated.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">China\u2019s defense industrial base has similarly been investigated. CASC\u2019s former Chairman Wu Yansheng\u2019s membership in the Chinese People\u2019s Political Consultative Conference (CPPCC) National Committee \u2014 China\u2019s top political advisory body \u2014 was revoked at the end of 2023. He was replaced by Chen Mingbo.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CASIC\u2019s chairman Yuan Jie also stepped down in 2024 after the company\u2019s Vice President Wang Changqing was removed from the CPPCC National Committee.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Liu Shiquan, chair of NORINCO, was also stripped of his CPPCC seat.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Though these industry leaders have not been officially implicated in the corruption investigation, the decisions to strip them of their CPPCC seats is a sign that Beijing is increasing its scrutiny of a sector that is of key importance to its defense missions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><i>Meia Nouwens is a senior analyst specializing on Chinese security and defense policy at the International Institute for Strategic Studies.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A push for innovation, production expansion and enforced party loyalty animated China&#8217;s defense-industrial complex last 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