Editor's note: China held a military parade on Tuesday to celebrate the 70th anniversary of the founding of New China, the 15th National Day parade since 1949. During the parade President Xi Jinping delivered a speech to renew China's commitment to peaceful development. Seven experts share their views on the parade and Xi's speech with China Daily's Liu Jianna:

Huge progress made in military manufacturing

The parade, among all other things, has demonstrated the revolutionary changes and amazing progress that China has achieved in military manufacturing. Now the military equipment on display was 100 percent made in China, a stark contrast to the first military parade in 1949 when the exhibition came from 98 factories in 24 countries.

As a leading industrial power, China excels in the integrated, mutually enhancing and sustainable development of military and civil manufacturing. As a result the upgrade in China's military equipment puts a much lighter load on the national economy thanks to economies of scale. Meanwhile certain major countries including the United States depend on fiscal expenditures to develop the military manufacturing industry and thus put a strain on economic development because they cannot apply the technologies in civil manufacturing and make profits out of it.

In this sense, it is no good for certain major powers to try to instigate a new Cold War as it is no match to China, at least in the sustainable development of the military industry.

- Mei Xinyu, a researcher at the Chinese Academy of International Trade and Economic Cooperation