The broker published a note emphasizing the potential breakthrough in China's military trade and the broad space opened by military-to-civilian conversion. It highlights that global military trade deliveries exceed $120 billion, with China accounting for about 5.8%, and that aviation equipment makes up over 40% of China's military trade mix.
The broker is bullish on China's defense sector, citing military trade breakthroughs and civil-military integration as key catalysts.
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