China held a massive parade today in Beijing to mark the defeat of Japan in World War II, showcasing its military might on an unprecedented scale.

The event in Tiananmen Square featured more than 12,000 troops, 500 pieces of military hardware and 200 aircraft.

President Xi Jinping in his opening speech paid tribute to "the Chinese people who unwaveringly fought hard and defeated aggression" from Japan.

He also announced that the People's Liberation Army (PLA) would be cut by 300,000 personnel.

The PLA is the world's largest military, with an estimated 2.3 million members.

Lea Gabrielle said on "Shepard Smith Reporting" that U.S. defense officials had no outward reaction to China's show of military strength, but many are wondering who the huge, highly publicized parade was intended to impress.

Watch the "Shepard Smith Reporting" clip above.

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