From the Introduction: "The People's Republic of China's (PRC's or China's) ruling party, the Chinese Communist Party (CCP), has built itself a modern and regionally powerful military. Decades of military modernization have transformed the People's Liberation Army (PLA) from a bloated, low-technology, ground forces-centric force to a leaner, more networked, high-technology force. Increasingly capable across multiple warfare domains, the PLA has reached parity with the U.S. military in several areas and is strengthening its ability to 'counter an intervention by an adversary in the Indo-Pacific region and project power globally,' according to the U.S. Department of Defense (DOD). [...] This report discusses issues for Congress related to the PLA, the PLA's ongoing reform and reorganization efforts, the PLA's roles in advancing China's national security interests, major features of China's strategic outlook, PLA capabilities and modernization, uncertainties related to PLA capabilities, and the resources that fuel PLA modernization."
CRS Report for Congress, R46808
Congressional Research Service: https://crsreports.congress.gov/