No further details, just announced

  • Will cut military forces by 300,000
  • Xi says China to go down a path of peaceful development

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More from Bloomberg now:

Xi said that army personnel would be reduced by 300,000, the biggest cut since 1997. The announcement foreshadows the most sweeping overhaul of the military in at least three decades, moving it closer to a U.S.-style joint command structure, people familiar with the matter said.