Beijing (The Thursday Times) — Shares in Chinese defence companies have risen sharply following the recent border clashes between India and Pakistan, raising the hopes of mainland China's arms exporters.
Pakistan Air Force's reliance on Chinese weapons
According to Bloomberg, Pakistan has in recent years imported a large quantity of defence equipment from China, including advanced J-10C fighter jets. During the clashes, Pakistan claimed to have shot down five Indian aircraft, including a French-made Rafale. The claim strengthened speculation that Pakistan may have used Chinese weapons in the operation, particularly as its reliance on Chinese defence platforms has grown.
Surge in defence company shares
An index of defence companies in mainland China rose 1.6 per cent, a two-week high. The company that makes the J-10C fighter jets was among those whose shares rose the most. According to Bloomberg, this is the first time since 14 October that the company's shares have risen so sharply.</
