J-10C jet maker's market capitalisation soars by over $7.6b after Pak-India conflict
Business
Global attention zeroes in on combat performance of Chinese J-10C fighter jets
ISLAMABAD (Web Desk) - The market capitalization of China’s premier jet manufacturer, Chengdu Aircraft Corporation, surged by more than $7.6 billion (Rs2.1 trillion) following the recent India-Pakistan conflict last week, Bloomberg reported on Wednesday, as global attention zeroed in on the combat performance of Chinese J-10C fighter jets.
The report comes after the Pakistan Air Force (PAF) hailed the use of the J-10Cs to shoot down five Indian fighter jets, including three French Rafales, during a recent flare-up in hostilities that saw the nuclear-armed neighbors pound each other with missiles, drones and artillery for four days until the United States brokered a ceasefire.
The episode has prompted a reassessment of Chinese weapons, challenging long-held perceptions of their inferiority to Western arms.
“The jet’s maker saw its market capitalization soar by over 55 billion yuan ($7.6 billion), or more than a fourth, by the end of last week,” Bloomberg reported.
China is the world’s fourth-largest arms exporter, but its customers are mostly developing nations like Pakistan that have limited funds.
The latest developments could bolster Beijing’s sales pitch as major economies from Europe to Asia heed President Donald Trump’s call to ramp up defense spending, Blomberg said.
“There is a good chance the weapons systems China is able to offer will be even more appealing to potential buyers” especially in the Global South, said James Char, assistant professor of the China Program at the S. Rajaratnam School of International Studies, noting the J-10C was not even China’s most advanced jet.
The J-10Cs have had few battle tests and are used to patrol the Taiwan Strait and their latest reported success by Pakistan has provided some initial insight into how they might fare against US fighters such as the F-16, Bloomberg said.
Another Chinese weapon in focus after the India-Pakistan standoff is the PL-15 missile.
Parts of the air-to-air missiles were found in India after the reported shoot-downs, suggesting the weapons, deployed on Pakistan’s J-10C aircraft, proved effective in their first known combat use.
With a top speed above Mach 5, the PL-15 is a rival to Western air-to-air missiles.
