Ballistic missiles, tanks, amphibious assault vehicles, drones and other military equipment rolled through the sprawling Tiananmen Square here, with President Xi Jinping hailing China's victory against Japan in WWII as a "great triumph" which "crushed Japanese militarists".
Over 80 per cent of the war machines on display was being shown to the public for the first time, state media reported.
Flanked by Russian President Vladimir Putin, South Korean President Park Geun-hye and around 30 other world leaders like UN Secretary-General Ban Ki-moon and India's Minister of State for External Affairs General V K Singh, Xi minced no words in targeting Japan for the WWII excess in which he said over 35 million Chinese suffered casualties.
Xi, the country's most powerful leader in decades after the first reformist leader Deng Xiaoping, said China would remain committed to "the path of peaceful development" and unexpectedly announced to cut 300,000 troops from its 2.3-million strong military, but gave no timeframe.
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"In that devastating war, the Chinese People's War of Resistance Against Japanese Aggression started the earliest and lasted the longest," he said.
The massive victory parade was also a triumph of Xi's leadership as he displayed complete control of the military against which he launched a massive anti-corruption crackdown leading to investigations into 40 top military Generals.
The unprecedented display of military might comes at a time when China is in a standoff with its neighbours over South China Sea and East China Sea.
The US, India and other countries have been stating that the disputes should not hinder the freedom of navigation in SCS which is a busy international shipping trade route.
China has also territorial disputes with Japan in the East China Sea.