China bolsters military capabilities in pursuit of One-China policy: report

The country is expected to spend over $120b on aircraft and naval vessels in the next decade.

China is strengthening its military capabilities as it aims to implement the One-China policy, GlobalData reported. 

GlobalData projected China will likely spend over $71b on the procurement of military fixed-wing aircraft and $51b towards the acquisition of naval vessels. 

"This spending highlights China’s intentions for capability development and fleet structure that can counter the might of the US Navy, the main external protector of the Taiwanese islands," Harshavardhan Dabbiru, Defence Analyst at GlobalData, said.

This comes after news that the Chinese army has sent fighter jets to monitor a US Navy patrol aircraft that was spotted flying over the Taiwan Strait. 

"The move reflects China’s assertive approach in claiming the territories that it believes to be an integral part of the country," he added. 

"Despite the presence of the US military, China sent its combat jets and naval vessels near the Taiwan Strait this week, a move that clearly challenges the US influence in the region. Furthermore, China has been holding frequent naval drills around Taiwan, which has fuelled tensions between the involved parties."