From the Overview: "The two-million-strong People's Liberation Army (PLA) is the military arm of the People's Republic of China's (PRC's) ruling Communist Party. The Trump Administration identified strategic competition with China and Russia as 'the primary concern in U.S. national security' in 2018 and U.S. defense officials have since said that China is the U.S. Department of Defense's (DOD's) top priority. According to a 2020 DOD report, the PLA has 'already achieved parity with--or even exceeded--the United States' in several areas in which it has focused its military modernization efforts and is strengthening its ability to 'counter an intervention by an adversary in the Indo-Pacific region and project power globally.'"
CRS In Focus, IF11719
Congressional Research Service: https://crsreports.congress.gov/