China's President Xi Jinping made a major announcement of cutting three lakh troops during his speech at the Chinese V-Day parade.

China's massive military parade has ended, with 12,000 Chinese troops and 1000 foreign troops joining in the march at the first ever V-Day parade to mark the 70th anniversary of the end of World War II. 

WATCH China's MIlitary PARADE LIVE HERE

Leaders of 30 nations, including Russian President Vladimir Putin and South Korean President Park Geun-hye were in attendance along with Chinese President Xi Jinping. 

However, several Western leaders skipped the event, that is being seen as a display of power by China. 

China showcased military equipment that was never seen by the rest of the world so far. 

LIVE UPDATES:

9.15 am (IST): China's V-Day military parade ends. 

9.11 am (IST): China displays its bombers and 'breakthrough' aircraft technology.

9.00 am: 84% of the military equipment on display at the VDay parade has never been seen before. 

8.50 am (IST): China displays its missiles, including its nuclear missiles.

8.44 am (IST): China displays its battle tank. 

8.40 am (IST): Foreign troops from 17 nations march at the V-Day parade.

8.23 am (IST): China's female guards march at the VDay parade.

8.17 am (IST): China's Air Force has flagged the guards, while its helicopters formed the number '70' in the sky to mark the 70th anniversary of the end of World War II. 

7.58 am (IST): China's V-Day parade has begun. 

7.53 am (IST): The Chinese Premier has declared the start of V-Day parade.

7.48 am (IST): China to cut troops by 300,000: President Xi Jinping

7.46 am (IST): "We in China love peace. We have resolved to pursue friendly relations with other countries," Xi says. 

7.44 am (IST): "The world is still far from tranquil. We should learn from the past and work towards peace," the Chinese president says. 

"All countries should jointly uphold the international order."

7.38 am (IST): Chinese President Xi Jinping now addressing the audience. 

7.36 am (IST): Chinese national flag raised.  

7.32 am (IST): The Chinese V-Day event has begun with a gun salute. 

7.25 am (IST): Over 40,000 people have gathered to watch the parade. 

7. 20 am (IST): The foreign guests at the Chinese V-Day parade. 

7.10 am (IST): Russian President Vladimir Putin arriving at the event. 

6.43 am (IST): UN Secretary General Ban ki-Moon has arrived at the event on Tiananmen Square. 

6.38 am (IST): 84% of the military equipment that will be displayed will be seen for the first time, Xinhua reported. 

6.35 am (IST) Chinese film star Jackie Chan is also seen among the audience. 

6.30 am (IST): 12,000 Chinese troops have gathered in 50 formations as the parade is set to begin. 

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