Most modern domestically developed Chinese platforms have not yet been battle-tested, said Eric Zhu, a defence analyst at Bloomberg Intelligence. “So having the combat record is a plus for their export potential.”

While Indian sources have disputed some aspects of these claims, the market response was immediately felt. Dassault Aviation, which had seen a rise in stock value due to strong Rafale sales, witnessed a minor drop. On the other hand, reports of shares of Chengdu Aircraft Corporation, the producer of Pakistan’s J-10C and JF-17 jets, surged.