China has seen an increase of over 70 percent in its defense exports from 2012 to 2016 when compared to 2007-2011 overtaking Germany, France and the UK during the time.
According to Chinese PLA Army run media publication, Chinamil, Barter trade and flexible payment terms have helped China to become the third largest weapon supplier in the world.
Flexible payment terms such as in tank fire control system, ground-based air-defense radar system, transport aircraft, amphibious infantry fighting vehicles and large surface ships exports to Venezuela in return for oil has helped China to do business, Chinamil reported last month.
China also bartered armored vehicles to Thailand in exchange for dried food stuffs. Uzbekistan and Turkmenistan purchased FD-2000 long-range air defense missile systems from China in exchange for natural gas.
Besides payment methods, the media report suggests that China provides customers with a range of options to buy from. China had a total of 11 major military-industrial groups as of 2017 to provide land, sea and air equipment systems including fighter jets, bombers, transport aircraft, early warning aircraft, helicopters, main battle tanks, self-propelled artillery, firearms, frigates, submarines, supply ships and anti-ship missiles, the report said.
Based on the report on the global arms export market by Stockholm International Peace Research Institute (SIPRI) based on reports from 2012 to 2016, China has a market share of 6.2 percent and lags behind US and Russia in the global weapons supplier list.
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