Chinese president Xi Jinping issued a very notable announcement Thursday in Beijing's Tiananmen Square during a massive military parade, stating his intention to cut the mlitary by about 300,000 troops.

Xi's unexpected announcement was made in the presence of notable world leaders,  including Russian President Vladimir Putin and South Korean President Park Geun-hye, as well as U.N. Secretary General Ban Ki-moon, according to The Los Angeles Times. The parade was organized by the ruling Communist party.

Xi emphasized that China is committed to peaceful development, stating that his country would "never seek hegemony or expansion. It will never inflict its past suffering on any other nation." 

The Chinese president also talked about China's resolve to honor the past, remembering the price it had to pay for peace at the same time, reported The Guardian. 

"The aim of our commemoration is to bear history in mind, honor all those who laid down their lives, cherish peace and open up the future," he said. "War is like a mirror. Looking at it helps us better understand the value of peace. China will remain committed to peaceful development. We Chinese love peace." 

Despite the content of Xi's speech, the celebrations were rife with the military might of China, with tanks, missile launchers, and more than 12,000 troops parading before thousands of hand-picked guests assembled in front of the Forbidden City. 

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